Ripple submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter. This move aims to broaden its digital asset custody, stablecoin issuance (RLUSD), and interstate payment capabilities. Ripple's CEO, Brad Garlinghouse, stated that approval would subject Ripple to both federal and state regulatory oversight, establishing a new standard of trust for the stablecoin market.
Following the announcement, XRP's price increased by 3%, reaching approximately $2.23. Ripple also applied for a master account with the Federal Reserve to directly access the Fed's payment systems and deposit its stablecoin reserves with the central bank.
However, there is uncertainty surrounding the Ripplecoin Mining platform. The platform claims to have been operating since 2017, offering cloud mining services for XRP, USDT, and BTC. User reviews on Trustpilot, while including positive feedback, also raise questions about its legitimacy.
Investors should conduct thorough due diligence before considering investments through the Ripplecoin Mining platform. Overall, Ripple's application for a national bank charter signifies the gradual integration of crypto finance into the mainstream financial system, but investors should carefully assess associated risks.