💰 Ripple Applies for U.S. Banking License 🌍💸

🏛️ July 2, 2025: Ripple is pushing deeper into mainstream finance, filing for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC), per WSJ. If approved, the OCC would regulate Ripple’s dollar-backed stablecoin, RLUSD.
This move places Ripple among a growing list of crypto firms seeking legitimacy and oversight as they bridge the gap between digital assets and traditional banking.
With stablecoins like RLUSD backed by cash and Treasurys, Ripple’s bid could signal a new era of regulated, blockchain-powered payments in the U.S. 💵💻
In a May 28 blog post, Ripple criticized the outdated SWIFT system, citing high costs, slow speeds, and manual errors. Ripple promotes XRP and its new stablecoin RLUSD as a blockchain-powered alternative for fast, low-cost, and transparent cross-border payments.
The company’s Ripple Payments platform offers real-time settlement and access to over 90% of global FX markets, aiming to modernize international money movement.
“Reducing manual touchpoints and increasing automation are key,” Ripple wrote.
January 7, 2025:
Ripple has adopted Chainlink's standard to provide reliable on-chain pricing data for its RLUSD stablecoin. This collaboration aims to streamline the integration of RLUSD into decentralized finance (DeFi) applications, enhancing its functionality and adoption across the DeFi ecosystem.
December 16, 2024:
Ripple Confirms Launch of USD-Backed Stablecoin - Ripple USD (RLUSD) on December 17, 2024.
December 10, 2024:
Brad Garlinghouse, CEO of Ripple, announced on X that Ripple has received final approval from the New York Department of Financial Services (NYDFS) for $RLUSD.
Exchange and partner listings are expected to go live soon!
Older news:
Ripple, a leading blockchain company, is poised to launch its highly anticipated stablecoin, RLUSD, on December 4. Designed to maintain a 1:1 peg with the U.S. dollar, RLUSD is fully backed by U.S. dollar deposits, ensuring both stability and trust for users.
Stablecoins like RLUSD are increasingly pivotal in the financial ecosystem, bridging traditional banking systems with the dynamic world of blockchain. Ripple aims to leverage its robust infrastructure and partnerships to establish RLUSD as a reliable digital dollar alternative.
The launch is subject to regulatory approval, reflecting the growing scrutiny in the crypto industry. If approved, RLUSD could play a crucial role in cross-border payments, decentralized finance (DeFi), and broader digital payment solutions, aligning with Ripple’s vision of transforming global finance.
This development marks another milestone in Ripple's journey, as the company continues to innovate at the intersection of blockchain and traditional finance.
Regarding its compatibility with the ISO 20022 ecosystem, Ripple has been actively involved in the migration to this global standard, being the first blockchain-focused company to join the ISO 20022 Standards Body.
This positions RLUSD well within the framework, as Ripple's broader strategy includes aligning with ISO 20022 to improve interoperability and enable seamless cross-border payments through its technologies.