Brad Garlinghouse, CEO of Ripple, stated that obtaining both state and federal oversight would create a new and unique benchmark for trust in the stablecoin market

Quotes that support claims

True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.

If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique) benchmark for trust in the stablecoin market," Ripple CEO Brad Garlinghouse