Crypto firm Ripple has submitted an application for a national bank charter in the US.

The move follows a similar step by stablecoin issuer Circle and marks a broader effort by digital asset companies to seek regulatory certainty and closer ties with the traditional financial sector.

According to Reuters, obtaining a bank charter would enable crypto firms to streamline payment settlements and reduce reliance on intermediary banks, potentially lowering operational costs.

It would also offer what the industry sees as formal recognition after years of regulatory uncertainty.

A spokesperson for the Office of the Comptroller of the Currency (OCC), a key banking regulator, confirmed receipt of Ripple’s application.

Brad Garlinghouse, CEO of Ripple, said that the company is applying for a Federal Reserve Master Account.

If approved, this would allow Ripple to access the US central bank’s payments infrastructure directly and hold reserves for its stablecoin, RLUSD, with the Federal Reserve.

Ripple introduced RLUSD in October 2024.

Interest in stablecoins has increased following the US Senate’s passage of the GENIUS Act, which the crypto industry views as a step toward clearer regulation.

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