Ripple applied for one National Bank Charter With the office of the competent of the Valuta (OCC) on July 2, CEO Brad Garlinghouse wrote in a post on X.
The submission would place Ripple USD (RLUSD) under federal supervision while maintaining its existing supervision by the New York Department of Financial Services, creating a “new benchmark for trust in the Stablecoin market”.
Garlinghouse added that Standard Custody & Trust Co., the Ripple daughter company that issues RLUSD, submitted a separate request on 30 June for a Master account of the Federal Reserve.
That account would enable the confidence to maintain RLUSD reserves directly at the FED, rather than through commercial banks, comparable to how Custodial banks keep customer funds.
An OCC approval would place Ripple between that small cohort and, if the FED grants Standard Custody, RLUSD makes the first Stablecoin with direct access to the Central Bank.
Double supervision for RLUSD
According to a Wall Street Journal report, Ripple argues that OCC supervision and access to the FED account together tackle institutional due diligence checklists that still limit the use of stablecoins.
Data from Artemis shows that RLUSD’s offer grew by almost 490% in 2025exceeded $ 455 million. The transaction volume registered a new of all time in June and became $ 2.6 billion.
Ripple’s Stablecoin is already undergoing monthly certificates and has cash and short -term treasury on bankruptcy accounts.
The report quoted Jack McDonald, senior vice-president of Stablecoins at Ripple, who said that the National Charter and Master Account “would set a new bar for transparency and compliance in the Stablecoin market.”
Linqto probe
The announcement of the charter landed hours after Garlinghouse was publicly refused Every formal relationship with LinqtoA private equity marketplace that is now being investigated by the Securities and Exchange Commission and the Ministry of Justice for supposed not registered stock sales.
In a separate post of 2 July on X, Garlinghouse said that Ripple never sold equity to Linqto and that the 4.7 million wrinkle shares of the platform came entirely from secondary purchases. He also reminded investors that at the end of 2024 Ripple stopped approvals for Linqto-related secondary transfers.
The former Chief Executive of Linqto, William Sarris, is confronted with accusations of inflating the stock prices of Ripple with more than 60% and marketing of special-PURPOSE vehicle units for around 5,000 non-accredited investors.
These allegations emerged as supervisors investigating whether the platform has violated the securities rules by bundling private companies in opaque structures.
The OCC will now assess the business plan, capitalization, risk management and management history of Ripple. The process usually includes a public comment period and can extend to more than 12 months.