<ul data-eligibleForWebStory="false"><li>Ripple Labs has applied for a national banking license from the U.S. OCC to operate as a federally regulated bank, allowing the company to offer various financial services independently.</li><li>Ripple is also seeking approval to open a master account with the Federal Reserve to manage RLUSD reserves directly with the central bank, reducing reliance on commercial banks.</li><li>The move by Ripple follows similar actions in the crypto industry, with firms like Circle and hints from Coinbase and Paxos aiming to enter traditional finance through banking charters.</li><li>The push for a banking license aligns with Ripple's RLUSD stablecoin, which is backed by U.S. Dollar deposits and could facilitate bridging traditional finance with blockchain, potentially making Ripple the first firm with state and federal oversight in the crypto space.</li></ul>

Ripple Applies for U.S. Banking License—Eyes Fed Access for RLUSD

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