Odaily Planet Daily News According to the Wall Street Journal, Ripple has submitted an application for a national bank license to the U.S. Office of the Comptroller of the Currency (OCC) on Wednesday. If approved, Ripple will achieve dual state and federal supervision of the stablecoin RLUSD. Ripple CEO said this move will establish a new trust benchmark in the stablecoin market. Previously, subsidiary Standard Custody also applied for the Federal Reserve's main account, intending to directly custody RLUSD reserves. This move comes at a time when the Trump administration is relaxing crypto regulation and encouraging federal license applications. (The Block)
Previously, Circle applied for a U.S. national bank license and plans to independently manage USDC reserves.