True to our long-standing compliance roots,
@Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.
Earlier in the week via
@StandardCustody, we also applied for a Fed Master account -- while Congress is working towards clear rules and regulations, and banks (in a far cry from the years of Operation Chokepoint 2.0) are leaning in, this access would allow us to hold
$RLUSD reserves directly with the Fed and provide an additional layer of security to future proof trust in RLUSD.
Ripple always has and will continue to build trusted, battle-tested and secure infrastructure. In a $250B market, RLUSD stands out for putting regulation first, setting the standard that institutions expect.
Ripple has applied for a national banking license, joining the rush of cryptocurrency companies seeking to cross the divide into mainstream finance
on.wsj.com/3I7tHhn