Ripple’s National Bank Ambition: How Could It Disrupt Stablecoins And Traditional Banking? Ripple’s National Bank Ambition: How Could It Disrupt Stablecoins And Traditional Banking?

Ripple's XRP/USD bid for a U.S. national banking license has been described by industry experts as a potential turning point for the company and the broader stablecoin ecosystem, as it positions Ripple to issue and move stablecoins under federal oversight without reliance on traditional banks.

In a statement sent to Benzinga, Chris Perkins, President of crypto-focused venture firm CoinFund, said Ripple's aggressive licensing strategy is building a formidable foundation for RLUSD/USD, its stablecoin.

“They're assembling a scalable and compliant infrastructure,” Perkins noted.

“With the bank license, Ripple is setting itself up to issue RLUSD in line with GENIUS Act requirements. Their recent moves, including the acquisition of Hidden Road and investment in Bitnomial, strengthen their ability to serve institutional clients efficiently. For the XRP community, RLUSD is shaping up to be the preferred stablecoin.”

Arthur Azizov, founder of B2 Ventures, told Benzinga that Ripple is no longer just collaborating with banks, it's positioning to operate as one.

“Ripple's timing is strategic, aligning its application with the Senate's progress on the GENIUS Act, which will define stablecoin regulation. By bringing RLUSD, the XRP ledger, and its liquidity services under one banking entity, Ripple could effectively cut out traditional intermediaries like SWIFT and correspondent banks,” Azizov explained.

“This isn't an isolated move. We're seeing fintechs like Stripe and SoFi move into regulated banking territory. Ripple is now part of this shift, aiming to connect directly to core payment rails like Fedwire.”

Ryan Lee, Chief Analyst at Bitget Research, highlighted the regulatory and market implications of Ripple's latest step.

“Applying for a banking license shows Ripple's intent to deepen its regulatory compliance and expand its institutional credibility. On the same day, Grayscale's multi-asset ETF, which includes XRP, received SEC approval. This signals growing acceptance of XRP in traditional finance circles,” Lee said.

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“A federally regulated stablecoin could reinforce XRP's role in global payments. However, regulatory hurdles remain, and how quickly approvals come will be crucial for Ripple's momentum,” he added.

Lee added that XRP's inclusion in regulated investment products could improve liquidity and attract more institutional investors.

However, he cautioned that ongoing legal uncertainties may affect XRP's near-term adoption pace.

Ripple's application comes shortly after stablecoin issuer Circle CRCL made a similar move, as crypto firms increasingly seek regulatory clarity to strengthen ties with the traditional financial system.

Ripple CEO Brad Garlinghouse confirmed the application on social platform X, stating that the license, if granted, would place Ripple under both federal and New York state oversight, setting what he called “a new benchmark for trust in the stablecoin market.”

The banking license would give Ripple a unique position: issuing RLUSD directly, with full regulatory backing, while continuing to use the XRP ledger as the transaction layer and XRP itself as a liquidity tool.

This move could further streamline Ripple's cross-border payment services, which are already moving significant volumes through on-demand liquidity corridors.

As crypto and fintech companies increasingly compete for territory historically dominated by legacy banks, Ripple's next steps may test how regulators approach the evolving intersection of crypto and traditional finance.

Image: Shutterstock/Stanslavs