Ripple seeks US bank charter for regulatory clarity and integration

Crypto firm Ripple is seeking a national bank charter in the U.S., following Circle’s move. This reflects a push for regulatory clarity and integration with traditional finance. Ripple aims to settle payments faster, reduce costs, and gain legitimacy. The company also seeks a Fed Master account for direct access to the Federal Reserve’s infrastructure. Ripple’s RLUSD stablecoin ranks among the largest, worth $470 million. Stablecoin firm Circle is also applying for a national trust bank charter. The U.S. Senate passing the GENIUS Act could boost stablecoin adoption with clear regulations, according to Grayscale’s research team.

Read more at Yahoo Finance: Ripple applies for US national bank charter as crypto eyes next frontier