Ripple, Circle and BitGo secure conditional approval for US banking charters
The Block
Ripple, BitGo, and Paxos received conditional OCC approval to become national trust banks in the US.Summary
The U.S. Office of the Comptroller of the Currency (OCC) granted conditional approval for Ripple National Trust Bank, allowing Ripple Labs to potentially become a full-fledged US bank. Additionally, the OCC conditionally approved applications for BitGo Bank & Trust and Paxos Trust Company, National Association, to convert from state trust companies to national trust banks. This development is seen as a significant step for crypto firms seeking to integrate digital asset holding and trading with traditional finance. Other major crypto entities, including Coinbase, Bridge (owned by Stripe), and Crypto.com, have also applied for federal bank charters.
(Source：The Block)