Ripple applies for a U.S. banking license to advance the regulatory Compliance of the RLUSD stablecoin.

Gate News bot message, The Wall Street Journal reported that Ripple submitted a national bank charter application to the OCC, aiming to bring its stablecoin RLUSD under federal regulation. At the same time, Ripple’s subsidiary Standard Custody & Trust is applying for a master account with The Federal Reserve (FED). Once the application is approved, the company will have the ability to directly issue and redeem stablecoins during non-bank operating hours.