Garlinghouse said this is a massive step forward.Garlinghouse said this is a massive step forward.

Garlinghouse With ‘Huge News’ for Ripple: National Trust Bank Approval Secured

2025/12/13 00:50

Ripple CEO Brad Garlinghouse announced minutes ago that the company he runs had received conditional approval from the US Office of the Comptroller of the Currency, a national agency created to ensure a safe and sound national banking system, to charter Ripple National Trust Bank.

In addition, Circle received similar approval, while BitGo, Fidelity, and Paxos had their state-chartered trust companies convert to the federal system, as journalist Eleanor Terrett explained.

She added that Comptroller Jonathan Gould explained that each application went through a standard “rigorous” review, ensuring that all companies had met additional conditions before becoming fully operational. He reportedly noted that the new entrants “help modernize and diversify the banking system and broaden access to innovative financial products.”

Garlinghouse used the opportunity to lash out at the traditional banking system and those fighting against more innovative companies such as his own.

He described this development as “huge news” for Ripple and its ecosystem, as it’s a “massive step forward” for the native stablecoin (RLUSD), which sets the “highest standard for stablecoin compliance with both federal (OCC) and state (NYDFS) oversight.”

The post Garlinghouse With ‘Huge News’ for Ripple: National Trust Bank Approval Secured appeared first on CryptoPotato.

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UK crypto holders brace for FCA’s expanded regulatory reach

UK crypto holders brace for FCA’s expanded regulatory reach

The post UK crypto holders brace for FCA’s expanded regulatory reach appeared on BitcoinEthereumNews.com. British crypto holders may soon face a very different landscape as the Financial Conduct Authority (FCA) moves to expand its regulatory reach in the industry. A new consultation paper outlines how the watchdog intends to apply its rulebook to crypto firms, shaping everything from asset safeguarding to trading platform operation. According to the financial regulator, these proposals would translate into clearer protections for retail investors and stricter oversight of crypto firms. UK FCA plans Until now, UK crypto users mostly encountered the FCA through rules on promotions and anti-money laundering checks. The consultation paper goes much further. It proposes direct oversight of stablecoin issuers, custodians, and crypto-asset trading platforms (CATPs). For investors, that means the wallets, exchanges, and coins they rely on could soon be subject to the same governance and resilience standards as traditional financial institutions. The regulator has also clarified that firms need official authorization before serving customers. This condition should, in theory, reduce the risk of sudden platform failures or unclear accountability. David Geale, the FCA’s executive director of payments and digital finance, said the proposals are designed to strike a balance between innovation and protection. He explained: “We want to develop a sustainable and competitive crypto sector – balancing innovation, market integrity and trust.” Geale noted that while the rules will not eliminate investment risks, they will create consistent standards, helping consumers understand what to expect from registered firms. Why does this matter for crypto holders? The UK regulatory framework shift would provide safer custody of assets, better disclosure of risks, and clearer recourse if something goes wrong. However, the regulator was also frank in its submission, arguing that no rulebook can eliminate the volatility or inherent risks of holding digital assets. Instead, the focus is on ensuring that when consumers choose to invest, they do…
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BitcoinEthereumNews2025/09/17 23:52