Ripple Secures Major US Banking Approval, XRP Fails to Rally

Ripple has made a massive regulatory breakthrough in the US market, gaining the Office of the Comptroller of the Currency's (OCC) final approval to build its own federally supervised national trust bank. According to Ripple CEO Brad Garlinghouse's update on X, this development is a major one for the company and its institutional goals, especially leading up to their highly anticipated Swell conference in NYC. The approved initiative enables Ripple National Trust Bank (RNTB) to handle reserves for its RLUSD stablecoin, act as a collateral trustee for stablecoin holders, and provide digital asset custody services to institutional customers. "We've always said crypto and banks work better together," said Garlinghouse. "The latest approval shows how to integrate digital assets into the existing financial system. The revolution isn't outside the system.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to U.Today.