Cryptocurrency companies Ripple, Circle, and BitGo are actively seeking bank licenses in the US to offer their services at a national level. This move reflects changes in the regulatory environment.
Cryptocurrency Firms Target US Bank Licenses
Cryptocurrency companies like Ripple and Circle are applying for national bank licenses in the US. These steps have been made possible by regulatory opportunities presented by the Trump administration. Ripple has also applied for a Federal Reserve master account to support its stablecoin initiatives.
OCC Licenses and Recent Market Dynamics
From 2020 to 2021, several crypto firms, including Anchorage and Paxos, received conditional charters from the OCC, leading to a significant increase in institutional investments in DeFi protocols. As of July 14, 2025, XRP is priced at $2.97, with a market cap of $175.48 billion.
Regulatory Path and Cryptocurrency Prospects
The path that cryptocurrency firms are taking to obtain licenses could set a precedent for greater cryptocurrency adoption in the US. Historical data supports the connection between financial markets and innovations like tokenized stocks.
Overall, Ripple, Circle, and BitGo's pursuit of bank licenses underscores the growing integration of cryptocurrencies into the US financial system and opens new opportunities for their use.
