According to ChainCatcher and Cointelegraph, Ripple has submitted a nationwide banking license application to the Office of the Comptroller of the Currency (OCC) and applied for a Federal Reserve master account, aiming to strengthen compliance with the traditional financial system. Ripple CEO Brad Garlinghouse stated that this move will establish a "credible compliance benchmark" for its stablecoin RLUSD. Previously, Circle had also applied to establish a national trust bank. With the advancement of the stablecoin regulatory bill GENIUS Act, leading crypto companies are accelerating their efforts to gain regulatory approval.
Ripple applies for US banking license and Fed master account to promote stablecoin compliance layout
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