Ripple’s Bank Move: You Won’t BELIEVE This! 😲

It is a truth universally acknowledged, that a firm in possession of much digital currency, must be in want of a banking license. At least, so it would seem, if one is to credit the observations of Mr. Vincent Van Code, a gentleman skilled in the art of software engineering, who has declared Ripple to be quite unlike any ordinary banking establishment. Indeed, he hints at the implications of their application for a Fed Master account – a matter, he suggests, of far greater consequence than mere membership in the American Bankers Association. 🙄

Concerning Ripple’s Plans: Not Your Grandfather’s Bank

Mr. Van Code did remark, with a noticeable air of superiority, that Ripple shall not be a bank in the common, retail-style – a revelation following their admittance into the lofty ranks of the ABA. Though a piece of news, he claims, the application for a Fed Master account is the truly interesting development. One wonders, however, if the general market comprehends such intricacies, given the XRP price remains, as he puts it, “hovering around a somewhat trifling $3.”

Through its subsidiary, Standard Custody & Trust Company, Ripple has petitioned for a Fed Master account concurrently with their pursuit of a national banking license. Mr. Brad Garlinghouse, the firm’s Chief Executive, has explained this is to secure their RLUSD reserves directly with the Federal Reserve, a gesture, one supposes, intended to add an extra layer of…well, security. One almost feels sorry for those subjected to such thorough consideration of their holdings!

Mr. unknowDLT, a fellow observer of the crypto sphere, was first to note Ripple’s ABA membership – a distinction apparently denied to USDC issuer Circle, despite their application for a banking license. The implication, he boldly proclaims, is that there can be but one true banking entity in this new digital age. He predicts momentous things for Ripple and XRP, envisioning the firm as the world’s largest bank. A rather sweeping statement, wouldn’t you agree? 🤔

Mr. unknowDLT echoes Mr. Van Code’s lament concerning the public’s seeming lack of awareness regarding Ripple’s advancements, attributing the retail investor’s attention to “memes and Bitcoin” – a rather unflattering assessment, to be sure. He suggests a pervasive misconception that Ripple is engaged in the unsavory practice of “dumping” XRP, whilst simultaneously constructing the infrastructure for the new financial order. Such ingratitude!

He adds, with a touch of dramatic flair, that the potential for XRP’s appreciation remains, alas, unrealized by the masses.

The Papers Are Open!

Mr. Pumpius, a personage of noted influence within the XRP community, has announced that Ripple’s application for a U.S. banking license from the Office of the Comptroller of the Currency is now available for public inspection. He marvels that the very firm the Securities and Exchange Commission devoted so much energy opposing, now positions itself as the “bank of banks,” built upon the XRP Ledger rather than the antiquated systems of old.

Mr. Pumpius further remarks that Ripple’s transformation from a mere crypto company to a liquidity institution is drawing to a close. It is, however, pertinent to observe that Ripple is not alone in its quest for a national banking license; Paxos and Circle, among others, are also engaged in similar endeavors. Even Coinbase has recently petitioned for a national trust charter. One can only imagine the resulting scramble for relevance!

2025-10-08 04:19

Concerning Ripple’s Plans: Not Your Grandfather’s Bank

The Papers Are Open!

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