Ripple (XRP) continues to make big moves. At this point, Ripple has applied for a national bank license in the United States, following a similar move by stablecoin giant Circle. While this move was seen as a major development for Ripple, Fox Business reporter Eleanor Terrett drew attention to a more significant development. Eleanor Terrett said that Ripple also applied for a Fed main account through Standard Custody, the crypto custody company it acquired last year, which was a much bigger deal. Terrett argued that granting a Fed master account is more important than a banking license in terms of access, because a Fed master account provides direct access to the payments system, a significant step up from an OCC charter. Noting that the FED has historically refused to grant such access to crypto companies, Terrett added that a decision on this issue is awaited in the ongoing case between Custodia Bank and the FED. “In terms of access, granting a Fed master account is a much bigger deal than granting an OCC charter. One banking attorney described it to me this way: “In terms of tiers, a master account is Diamond, a bank is Platinum, trust companies are Gold, and money transmitter licenses are Silver.” The Fed has historically resisted granting crypto companies direct access to the payment system. It is currently defending this stance in a lawsuit regarding depository institutions’ access to primary accounts (Custodia Bank – FED ), and a decision is expected any day now.” If Ripple’s Fed master account application is accepted, it will gain access to the Federal Reserve’s payment infrastructure and allow it to hold its RLUSD stablecoin reserves directly at the central bank. In addition to applying for an OCC trust charter, @Ripple has also applied for a Fed master account through the trust company it acquired last year — @StandardCustody — which I reported Monday (see below — although I admittedly missed the Ripple connection ). Being granted a… pic.twitter.com/LHQMMARGlC — Eleanor Terrett (@EleanorTerrett) July 2, 2025 *This is not investment advice. Continue Reading: Ripple (XRP) Made a Big Move on the FED's Lawsuit!
