Crypto firm Ripple is applying for a national bank charter in the United States, its CEO Brad Garlinghouse wrote in a social media post on Wednesday, following a similar move by stablecoin giant Circle.
The move reflects a broader push by crypto firms for regulatory clarity and deeper integration with the traditional financial system.
A charter would allow crypto companies to settle payments faster and cut costs by bypassing intermediary banks, while also providing a stamp of legitimacy after years of what they claim has been regulatory…
