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Ripple secures US banking charter and trust bank status, reports indicate

Industry reports indicate Ripple has obtained a US banking charter to operate as a federally supervised trust bank, marking a key regulatory milestone alongside developments for its RLUSD stablecoin.

A 30-day price chart for XRP showing a 17.54% drop to $1.25, with timeline annotations highlighting major milestones including Ripple securing US approval.
Image: @BSCNews

Ripple has secured a US banking charter, according to reporting in Coin Telegraph's Crypto Biz edition. The milestone reflects expanding regulatory clearance for the company in the United States.[1]

A retrospective on October crypto milestones published by BSCNews similarly noted that Ripple received final US approval for Ripple Bank. In addition, coverage by memeburn highlighted Ripple's status as a federally supervised trust bank, pointing to operational and regulatory implications for its stablecoin, RLUSD.[2][3]

The approval was highlighted among several key ecosystem developments for XRP during the month, which also included Coinbase launching Ripple USD, Standard Chartered rolling out custody services, and BNY Mellon featuring XRP on its corporate payments roadmap. Despite these institutional updates, XRP dropped 17.54% over the 30-day period to $1.25, after hitting a monthly high of $1.54 and a low of $1.21.[3]

Key facts

  • Coin Telegraph reported that Ripple has secured a US banking charter.
  • BSCNews reported that Ripple received final US approval for Ripple Bank.
  • memeburn described Ripple as operating as a federally supervised trust bank, focusing on the impact on its RLUSD stablecoin.
  • BSCNews' October recap highlighted other ecosystem events, including Coinbase launching Ripple USD, Standard Chartered launching custody, and BNY Mellon including XRP in its payments roadmap.
  • XRP fell 17.54% over the 30-day period shown by BSCNews, declining to $1.25 from an October peak of $1.54.

Sources · 3 sources

  1. CT

    Coin TelegraphArticle ·

    Crypto Biz: Bitcoin’s quantum threat is becoming an economic problem Bitcoin faces mounting quantum security concerns as Ripple secures a US banking charter, USDC gains ground in Europe and VanEck adds BTC to a new ETF.

    Open source
  2. ME

    memeburn@memeburnPost on X ·

    Ripple Is Now a Federally Supervised Trust Bank: What That Changes for RLUSD? https://t.co/4BY9dYZRrO

    Open source
  3. BS

    BSCN@BSCNewsPost on X ·

    October in review: The BIGGEST news events to hit $XRP: 1) @BNYglobal names XRP in its corporate payments roadmap 2) @StanChart launches custody 3) @Ripple gets final US approval for Ripple Bank 4) @coinbase launches Ripple USD https://t.co/iRQV0dA2mk

    Open source