Ripple, Circle, and BitGo are accelerating their entry into the US banking sector by seeking bank licenses to offer crypto services nationwide. This move aligns with the Trump administration’s regulatory stance.

These applications reflect broader implications: stronger integration of cryptocurrencies in the US financial system, awaiting regulatory approval, and potential institutional adoption increases.

Cryptocurrency companies like Ripple and Circle are pursuing national trust bank licenses in the US to streamline and enhance their services. This approach stems from regulatory opportunities presented by the . to bolster their stablecoin initiatives. For more details on compliance and licensing, see the U.S. Regulations for Crypto Businesses: Compliance and Licensing Overview.

If approved, Ripple and Circle could extend their digital asset offerings nationwide without state-specific approvals. This could catalyze greater integration of traditional banking and crypto solutions.

The industry reacts as leaders like Brad Garlinghouse of Ripple highlight the potential regulatory breakthroughs. Here’s a recent update from Garlinghouse on the developments:

In a recent statement, Garlinghouse said, “If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.”

During 2020-2021, several crypto firms, including Anchorage and Paxos, received conditional OCC charters, leading to significant institutional investment increases in DeFi protocols.

As per CoinMarketCap on July 14, 2025, , with a market cap of . XRP observes substantial growth in its 7-day and 30-day performance, rising by and respectively, reflecting increased market interest.

According to the Coincu research team, the regulatory path crypto firms are taking could set a precedent for greater cryptocurrency adoption in the US. Historical data supports the intertwining of financial markets and innovations like tokenized stocks, potentially transforming traditional finance frameworks. For more guidance on handling crypto assets, visit the OCC Issues Guidance on Crypto Asset Custody and Management.

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