Ripple Eyes U.S. Banking License Amid Institutional Expansion Push

Ripple Labs, the firm behind the XRP Ledger, is reportedly…

3 Jul 2025 | 2 min read

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Ripple Labs, the firm behind the XRP Ledger, is reportedly seeking a U.S. banking license as it ramps up its bid to offer regulated financial services and deepen institutional adoption of blockchain technology.

According to a recent report by The Wall Street Journal, Ripple has applied for a charter with U.S. regulators, potentially joining the growing list of crypto-native firms entering the traditional financial sector. If approved, the license would allow Ripple to offer direct banking services, a move that could significantly expand its suite of enterprise products beyond cross-border payments. While Ripple has not officially confirmed the application, Chief Legal Officer Stuart Alderoty acknowledged the firm’s ambitions, stating:

“We’re trying to bridge the gap between traditional finance and blockchain by working with not around regulators. A banking license is a natural next step.”

Why It Matters

The move reflects Ripple’s long-term strategy to evolve into a full-stack financial infrastructure provider. With institutional demand for regulated crypto solutions on the rise, a banking license could help Ripple offer custody, payment clearing, and settlement services, all under U.S. regulatory oversight.

The development comes at a critical time. XRP Ledger usage has surged in recent months, processing over 8 million payments weekly, while Ripple’s legal battle with the U.S. SEC nears resolution. Market analysts suggest that legal clarity and banking status could open doors for future products like an XRP-based ETF or on-chain lending platform.

Industry Impact

If granted, Ripple would join the likes of Kraken and Anchorage, which have previously secured banking or trust charters. The license could also give Ripple access to the Federal Reserve payment rails, strengthening its pitch as a blockchain-native alternative to SWIFT.

“Ripple’s push for a banking license is a statement: crypto is here to integrate, not just disrupt,” said FinTech strategist Olivia Monroe.

XRP Market Reaction

At the time of writing, XRP is trading around $2.32, up over 4% in the past 24 hours. The news of Ripple’s banking ambitions is seen as a bullish signal by investors, with some speculating that institutional-grade access could drive long-term value for XRP.

For a detailed outlook, Read the latest: XRP Price Prediction 2025

FAQs

Has Ripple applied for a banking license?

Yes, according to a *Wall Street Journal* report (July 2025), Ripple has applied for a U.S. banking license. This move aligns with the company’s goal to expand its regulated financial services offerings and bridge traditional banking with blockchain infrastructure.

Do U.S. banks use XRP?

While some U.S. banks have explored Ripple’s enterprise solutions, most do not directly use XRP for settlement yet. However, RippleNet and the On-Demand Liquidity (ODL) solution—powered by XRP—are used by several financial institutions globally.

How many licenses does Ripple have?

Ripple holds more than 40 money transmitter licenses across U.S. states, including New York’s BitLicense. These licenses allow Ripple to offer cross-border payment services in compliance with U.S. regulations.

Is SBI using Ripple

Yes, Japan’s SBI Holdings is one of Ripple’s strongest strategic partners. SBI uses Ripple’s technology for international remittances and is also involved in promoting XRP liquidity in Asia through its subsidiary, SBI Remit

Is Ripple going to be a bank?

Ripple has not officially announced plans to become a full-fledged bank. However, its application for a banking license suggests a move toward offering regulated financial services directly—possibly including custody, payment clearing, and settlement.

Is Ripple integrated into the SWIFT banking system?

Ripple is not directly integrated with SWIFT. In fact, Ripple positions itself as a blockchain-based alternative to SWIFT for faster and cheaper cross-border payments.

Do any companies accept XRP?

Yes, some online merchants and crypto payment processors accept XRP for transactions. However, XRP’s primary use case remains institutional cross-border liquidity rather than retail payments.

Does JP Morgan use XRP?

No, JP Morgan does not use XRP. The bank has developed its own blockchain-based solution called JPM Coin for internal settlements and interbank transfers.

Will Amazon accept XRP?

As of now, Amazon does not accept XRP or any other cryptocurrency for direct payments. However, there are third-party workarounds like crypto gift card platforms that allow users to spend XRP indirectly.