Ripple Labs has applied for a U.S. banking license, following in the footsteps of Circle, as crypto companies seek greater legitimacy and closer integration with traditional finance. Ripple’s CEO, Brad Garlinghouse, confirmed the application for a national bank charter with the Office of the Comptroller of the Currency (OCC), emphasizing that approval would set a new standard for trust in the stablecoin market.

After nearly five years of legal battles, Ripple and the U.S. Securities and Exchange Commission (SEC) have agreed to mutually abandon all appeals, officially ending their high-profile dispute over the sale of XRP. This decision follows a recent federal court ruling that rejected both parties’ attempt to reduce Ripple’s penalty and dissolve a permanent injunction.

Ripple’s stablecoin RLUSD has experienced rapid growth, recently surpassing the$300 million mark in circulating supply—a sixfold increase since its launch in December 2024.