Saad Ullah
In a significant regulatory development, Ripple Labs has formally submitted its Interagency Charter Application with the U.S. Office of the Comptroller of the Currency (OCC) under the name "Ripple National Trust Bank." The application, now available for public review, represents Ripple's most ambitious move yet toward becoming a federally regulated financial institution on American soil.
Ripple's Bank Ambitions Enter Public View
The filing was brought to widespread attention by trader STEPH IS CRYPTO, sparking immediate discussion across the crypto community. The document, which has been reviewed by regulators and legal representatives, lists Brian Spahn, Senior Director of Regulatory Compliance at Ripple, as the primary contact.
Legal support comes from Josh Boehm and Dana Syracuse of Paul Hastings LLP, a prominent law firm with deep expertise in financial services and digital asset compliance. This submission signals Ripple's intention to operate a national trust bank, which would enable the company to offer custody, settlement, and digital asset services under federal supervision.
From Crypto Company to Regulated Bank
Ripple's pursuit of a bank charter arrives at a critical juncture for the company. After years of legal battles with the U.S. Securities and Exchange Commission over whether XRP should be classified as a security, Ripple is now actively working to strengthen its regulatory credentials. If the OCC grants approval, Ripple would gain the ability to integrate more deeply into the traditional U.S. financial system while maintaining its blockchain-based settlement infrastructure. The proposed trust bank would serve both institutional clients and provide regulated crypto custody services, placing Ripple in the same category as Anchorage Digital and Custodia Bank, both of which already hold federal trust charters.
Market Speculation: XRP Reacts
The crypto market responded quickly to the news, with XRP attracting renewed attention from traders betting on the potential impact of a bank charter. Some highly speculative price forecasts have emerged, with optimistic targets reaching as high as $10 per XRP. While such predictions remain uncertain and should be taken with caution, they reflect growing market confidence in Ripple's regulatory progress and future prospects.
A Strategic Step Toward Full Integration
This development underscores Ripple's broader vision to transform from a cross-border payment network into a fully regulated financial institution. By pursuing federal banking status, Ripple seeks to create a functional bridge between blockchain innovation and traditional finance, a strategy that could establish a blueprint for future crypto-banking models across the United States. As the OCC review moves forward, the financial and crypto industries will be monitoring developments closely. A successful approval would not only reshape Ripple's business structure but could fundamentally alter how blockchain companies operate within the American banking system.
Saad Ullah
