Ripple Secures Conditional Approval for National Bank Charter
- In December, Ripple received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national bank charter.
- Ripple’s last private valuation was approximately $40 billion after a $500 million investment round.
- The company holds an estimated total of around 42 billion XRP on its balance sheet.
- A viral claim suggests Ripple’s valuation exceeded $120 billion following banking developments, although context is necessary.
- Ripple has applied for a Federal Reserve master account to integrate with FedWire and FedNow systems.
Ripple’s conditional approval for a national bank charter marks a significant milestone as no other crypto-native company has achieved this status before. The approval paves the way for Ripple National Trust Bank to manage reserves for its RLUSD stablecoin, potentially integrating into core US payment systems if further approvals are granted.
With around 40 billion XRP in possession, Ripple could see its holdings valued at $120 billion if XRP prices reach $3 per coin, highlighting the potential financial impact of these regulatory advancements on its balance sheet. (Source)
