Ripple Labs, a cross -border company based on blockchain, asked for a national banking license from the US office of the Currency Controller (OCS). The CEO of Ripple, Brad Garlinghouse, confirmed that the company was looking for a national banking charter to improve its regulatory compliance.
Garlinghouse also noted that the standard guard, a Ripple subsidiary, asked for a main Fed account. Consequently, the standard guard will keep the RUSD reserves directly with the Fed.
“Ripple has always and will continue to build confidence, tested and secure infrastructure. In a market of 250 billion dollars +, Rlusd stands out to put the regulations first, establishing the norm that institutions are waiting for,” Garlinghouse said.
Ripple joins an increasing list of cryptographic companies looking for a banking license
Ripple continued to put pressure for regulatory compliance in the midst of the planned imminent closure of the current trial brought by the dry in the United States. As Coinpedia reported, Ripple has already abandoned its cross -appeal request, the American sec predicting to do the same.
Ripple is now joining a growing list of companies related to crypto seeking to obtain a national banking license. Some of the notable cryptography companies in the United States looking for a national banking license include Circle Internet Group, Bitgo, Coinbase Global and Paxos.
As part of the Joe Biden administration, the only Digital Anchorage obtained a charter for a national banking license. However, under the Donald Trump administration, more cryptographic companies should receive the charter for a national banking permit.
In addition, President Trump confirmed during the cryptography summit on June 12 that Operation Choke Point 2.0 was over. In addition, the US Congress has prompted clear regulations in cryptography, in particular through the Act on Engineering and more legislation in the pipeline.
