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Ripple’s subsidiary, Standard Custody & Trust Company, applied for a Federal Reserve master account to directly custody RLUSD reserves with the central bank and to issue and redeem stablecoins outside normal banking hours

Federal Reserve master accounts provide banks and depository institutions with direct access to the U.S. central banking system, eliminating the need to operate through intermediary banks

Ripple filed for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC) as part of its efforts to operate as a federally regulated financial institution

National bank license would allow Ripple to expand its crypto services across state lines under unified federal regulation and elevate its stablecoin operations into federally supervised territory

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