Why Ripple Won’t Be Just A Regular Bank – The Fed Master Account Application Is A Game-Changer

bitcoinistPubblicato 2025-10-08Pubblicato ultima volta 2025-10-08

Introduzione

Software engineer Vincent Van Code has declared that Ripple will not be just a regular bank. He also alluded to...

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Software engineer Vincent Van Code has declared that Ripple will not be just a regular bank. He also alluded to the Fed Master application as one of the interesting aspects amid the crypto firm’s move to obtain a national trust charter.

Why Ripple Won’t Be A Regular Retail-Style Bank

Vincent Van Code stated that Ripple won’t be a regular retail-style bank following the revelation that the crypto firm was a member of the American Bankers Association (ABA). He stated that it was big news, but opined that Ripple’s application for a Fed Master account is more interesting. The software engineer added that it is surprising how the whole market is oblivious to these advancements and that the XRP price is still hovering around $3.

Ripple had, through its subsidiary Standard Custody & Trust Company, applied for a Fed Master account at the same time it applied for a national banking license. The firm’s CEO, Brad Garlinghouse, had explained back then that this would enable them to custody their RLUSD reserves directly with the Federal Reserve, further adding another layer of security for the stablecoin.

Meanwhile, Crypto pundit unknowDLT was the one who pointed out that Ripple was a member of the ABA, while USDC issuer Circle, which has applied for a national banking license, is not. The pundit further remarked that this means that only one crypto company can be considered a bank. UnknowDLT indicated that big things are in store for Ripple and XRP, declaring that the crypto firm will become the world’s largest bank.

UnknowDLT also echoed Vincent Van Code’s sentiment that the market is oblivious to the advancements that are on the horizon for Ripple and XRP. The crypto pundit claimed that retail investors are distracted by memes and Bitcoin.

The pundit further remarked that people think that Ripple is dumping XRP on retail investors while the firm continues to build the infrastructure for the new financial system. UnknowDLT added that people have not realized the great potential for appreciation that the XRP will have.

The Firm’s Application Open For Public Review

XRP influencer Pumpius revealed that Ripple’s application for a U.S. banking license from the Office of the Comptroller of the Currency (OCC) is now open for public review. He remarked that the crypto firm is becoming a bank and that the same company the SEC fought for years is now positioning itself as the “bank of banks” built not on legacy rails but on the XRP Ledger.

Pumpius added that Ripple’s shift from a crypto company to a liquidity institution is almost complete. It is worth mentioning that the crypto firm is one of many firms that have applied for a national banking license, including Paxos and Circle. Crypto exchange Coinbase also filed for a national trust charter last week.

Featured image from Getty Images, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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