Ripple applies for US National Bank to provide regulatory clarity and deeper integration with the traditional financial system

Ripple, a crypto firm, is applying for a national bank charter in the US.
This move aims to provide regulatory clarity and deeper integration with the traditional financial system.
A charter would allow crypto companies to settle payments faster and cut costs.

Ripple is also seeking a Fed Master account to access the Federal Reserve's payments infrastructure and hold its stablecoin reserves directly with the central bank. This application follows a similar move by stablecoin giant Circle.