Ripple President: “US bank charter application under review…license momentum to continue”

Ripple, the issuer of XRP, is reportedly undergoing a review process for approval to establish a new bank in the United States.

Monica Long, Ripple’s president, said on X (formerly Twitter) on the 14th (local time), “Over the past year, Ripple has secured new licenses in major financial hubs such as the UK, the European Union (EU), Dubai and Singapore,” adding that “a bank charter from the Office of the Comptroller of the Currency (OCC) is also currently under review.” Long said, “Ripple’s portfolio of more than 75 licenses enables us to provide better services to more customers,” adding, “Once customers onboard to Ripple, we’ll take care of the rest.”

On the same day, Ripple also obtained in-principle approval for an Electronic Money Institution (EMI) license from Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). A Ripple representative said, “This approval is a major milestone in our journey to expand ‘Ripple Payments’ across the EU and provide institutional-grade digital-asset infrastructure in the region.”