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Ripple Applies for National Banking License to Expand Crypto Services
Ripple, the blockchain company known for its cross-border payment solutions, has applied for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC). This move is part of the company’s strategy to expand its presence in mainstream finance and enhance its regulatory compliance. Ripple’s application comes after the launch of its stablecoin, Ripple USD (RLUSD), which is backed by the U.S. dollar. If granted, this banking license would allow Ripple to operate under federal banking regulations, a significant step for a company that initially gained attention within the cryptocurrency ... (full story)