The CEO said that the License of the National Bank will directly work with the payment funds of the US Federal Reserve and will eliminate the company’s dependence on intermediary banks.
Ripple also applied to the opening of the Master Account bank account in one of the 12 federal backup banks.
“The score in the Fed will allow Ripple to store RLUSD stablecoin reserves in a transparent and regulated environment, which can potentially attract more attention and add to Stablecoin’s trust from institutional investors,” said the head of Ripple.
According to Garlinghaus, the decision to create an independent banking structure reflects Ripple’s desire to comply with regulatory requirements and integrate digital assets into the US financial ecosystem. He said that the license will allow Ripple to improve the economy of cross -border payments using the XRP and RLUSD digital assets.
Earlier, a group of billionaires earning on modern technologies, led by the founder of Anduril Palmer Luckey and the co -founder of Palantir Joe Lonsdale, announced the creation of a new bank oriented for servicing participants in the cryptocurrency industry of the USA.
Source: Bits
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