Ripple's Conditional Approval As a National Trust Bank

The Office of the Comptroller of the Currency (OCC) has conditionally approved Ripple to operate as a national trust bank, a significant milestone for the crypto firm and its payment service, XRP. Crypto expert Stern Drew emphasized that this approval grants Ripple federal regulatory oversight, marking a breakthrough for the company. He noted that the RLUSD stablecoin has set a new standard for compliant stablecoins, while XRP is now integral to the U.S. financial system. Ripple CEO Brad Garlinghouse hailed the approval as a major advancement, particularly for RLUSD, which is establishing high compliance standards. The firm anticipates that as traditional finance firms enter the crypto space, they will prefer stablecoins with robust regulatory compliance, enhancing trust and reliability for enterprise use. Ripple confirmed that its banking services will maintain the same regulatory standards for RLUSD across its payment solutions utilizing XRP. Additionally, the approval has sparked interest in XRP, with Swiss bank AMINA integrating Ripple’s services, further validating XRP's potential in the banking sector. Read more AI-generated news on: https://app.chaingpt.org/news