Ripple has applied for a national banking license from the Office of the Comptroller of the Currency (OCC) to expand its crypto services under federal regulation. This move follows a similar application by Circle, indicating a trend among stablecoin issuers seeking federal oversight as U.S. legislation progresses. Following the announcement, XRP, the cryptocurrency linked to Ripple, saw a 3% increase. Ripple's license application aims to enable it to operate across state lines and implement services aligned with federal regulations. Currently, Ripple is regulated by the New York Department of Financial Services for its $440 million RLUSD stablecoin. This development is part of a larger trend in the crypto space as companies prepare for potential regulatory changes regarding stablecoins and the overall cryptocurrency market structure.

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