Brad Garlinghouse seeks national bank charter for Ripple from the OCC
@bgarlinghouse: Ripple seeks bank charter
Brad Garlinghouse, CEO of Ripple, announced that the company is applying for a national bank charter from the Office of the Comptroller of the Currency (OCC).
This strategic move, if approved, would position Ripple under both state and federal oversight. It signifies Ripple's commitment to compliance and could set a new standard for trust in the stablecoin market. By securing oversight from both the New York Department of Financial Services (NYDFS) and the OCC, Ripple aims to enhance its credibility within the financial markets.
Garlinghouse's announcement underscores the potential of integrating traditional banking frameworks with the evolving cryptocurrency landscape. This development is especially significant for stablecoins, which have drawn increasing scrutiny from regulators.
By aligning with stringent regulatory standards, Ripple seeks to bolster its reputation, ensuring stakeholders that it adheres to both state and federal guidelines.
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In the previous news, tweet author Tony Edward discussed XRP Solana and Cardano's inclusion in ETF.
