Ripple Applies for Federal Bank Charter to Expand RLUSD Stablecoin Legitimacy

Ripple Applies for Federal Bank Charter to Expand RLUSD Stablecoin Legitimacy

Ripple Labs has officially applied for a U.S. federal bank charter in a strategic move to bring its stablecoin RLUSD under a nationwide regulatory framework. This makes Ripple the second stablecoin issuer to do so, following Circle. If approved, Ripple will operate under the supervision of the Office of the Comptroller of the Currency (OCC), enabling broader services across the United States.

Currently, RLUSD is regulated by the New York Department of Financial Services (NYDFS). With the federal charter, the coin would benefit from dual regulation, boosting transparency and compliance. Ripple's SVP Jack McDonald emphasized that the bank license will support future crypto services beyond stablecoins.

Strengthening Infrastructure with Fed Master Account

In parallel, Ripple has also applied for a Federal Reserve master account via its subsidiary, Standard Custody & Trust. If granted, Ripple could directly store reserves with the Fed and issue or redeem RLUSD even outside normal banking hours. This would significantly improve operational efficiency and investor trust.

Proactive Strategy for U.S. Stablecoin Regulation

The application comes as Congress pushes the Genius Act, a bill that may mandate federal bank licenses for all stablecoin issuers. By moving early, Ripple positions itself to comply with upcoming requirements and maintain a foothold in the U.S. market.

To date, Anchorage Digital is the only crypto firm with a federal bank license, though it does not issue stablecoins. Circle, Paxos, and other competitors are also reportedly seeking licenses, suggesting rising competition in this space.

RLUSD Growth and Outlook

Launched in late 2024, RLUSD is backed by U.S. dollars, short-term Treasuries, and cash. Its market cap currently stands at around $469 million. RLUSD is live on both Ethereum and XRP Ledger and continues to expand its global presence.

SEC Approves Grayscale’s Digital Large-Cap Fund Conversion to ETF

SEC Approves Grayscale’s Digital Large-Cap Fund Conversion to ETF — A New Era for Altcoin ETFs?

The U.S. Securities and Exchange Commission (SEC) has officially approved Grayscale’s Digital Large-Cap Fund to be converted into an Exchange-Traded Fund (ETF), signaling a major shift in the evolution of cryptocurrency investment products.

This fund tracks the CoinDesk Five Index, comprising the top five cryptocurrencies by market capitalization

Bitcoin (BTC): 80.2%

Ethereum (ETH): 11.3%

XRP: 4.8%

Solana (SOL): 2.7%

Cardano (ADA): 0.81%

From Trust to ETF: A Strategic Move

This conversion aims to eliminate pricing inefficiencies that were common under Grayscale’s former trust structure. Trust products often faced lock-up periods and lacked redemption mechanisms, creating discrepancies between market price and actual NAV. The ETF model offers greater liquidity, transparency, and tighter price tracking.

Grayscale stated that the fund aims to reflect market-weighted asset allocation in line with real-time pricing.

SEC Streamlines ETF Approval — Altcoin ETFs Set to Accelerate

Alongside this approval, the SEC is reportedly developing a new, streamlined ETF approval process. Currently, applicants must file both Form 19b-4 (via the exchange) and S-1 registration statements (via the issuer). The new process would allow qualifying ETFs to be automatically approved 75 days after filing only the S-1, significantly reducing regulatory friction.

With over 70 altcoin ETF applications currently pending, this procedural reform could lead to a wave of approvals in the near future.

An ETF analyst noted, “This framework could unlock the financialization of altcoins, accelerating their adoption among institutional investors.”

Grayscale’s Digital Large-Cap Fund has been approved as an ETF, reflecting growing regulatory confidence in crypto-based products.

The SEC is planning to simplify ETF approval, enabling faster and more predictable pathways for altcoin ETFs.

These developments could boost market maturity, liquidity, and investor confidence in the digital asset sector.

Ripple vs. SEC Could the July 3 Meeting Mark a Turning Point?

Ripple vs. SEC Could the July 3 Meeting Mark a Turning Point?

The long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may be entering a new chapter. The crypto community is closely watching a closed-door SEC meeting scheduled for July 3, which some believe could be a pivotal moment in the ongoing XRP litigation.

Is the SEC Meeting Just Routine or a Game-Changer?

According to Crypto Times, speculation is growing within the XRP community. One anonymous user going by “RippleRadar” posted: “Could July 3 be the final chapter of the Ripple legal drama?”—raising hopes that the SEC might move to settle or conclude the case.

However, former SEC attorney Marc Fagel dismissed the speculation, clarifying that such closed meetings are held every Thursday and that there’s no known indication of any XRP-related decision on the agenda. “It’s just another regular meeting,” he stated, emphasizing that any assumption of resolution is mere conjecture.

Ripple Officially Withdraws Appeals

Meanwhile, Ripple has made a decisive move to de-escalate the legal battle. CEO Brad Garlinghouse announced via X (formerly Twitter) that Ripple would withdraw all mutual appeals related to XRP’s security status. He emphasized that the company is ready to “turn the page” and focus on building the “Internet of Value.”

This announcement came shortly after U.S. District Judge Analisa Torres issued a key ruling on June 26, denying the SEC’s request to modify penalties and impose new compliance orders.

While some in the XRP community hope for positive news out of the July 3 SEC meeting, there is no concrete evidence yet to support a resolution. Still, Ripple’s decision to drop its appeals could represent a meaningful step toward settlement, and possibly mark a shift in the SEC’s broader enforcement strategy in crypto markets.

Ripple’s Stablecoin RLUSD Surges — Regulatory Clarity and Global Expansion Drive Growth

Ripple’s Stablecoin RLUSD Surges — Regulatory Clarity and Global Expansion Drive Growth

1. 47% Growth in June, Led by Ethereum Network Expansion

Ripple’s stablecoin RLUSD has become one of the fastest-growing digital assets in the market. According to DeFillama, RLUSD’s circulating supply grew 47% in June alone, reaching $455 million.

Of this, about $390 million is on the Ethereum network, with $65 million on the XRP Ledger. Token Terminal reports that RLUSD’s supply on Ethereum has grown nearly fourfold since January.

2. Growth Drivers: Regulatory Clarity and Legal Resolution

Analysts attribute RLUSD’s growth to two key factors:

GENIUS Act: Provides regulatory guidelines for dollar-based stablecoins, offering a solid foundation for market expansion

Ripple-SEC Legal Settlement: Ripple CEO Brad Garlinghouse’s announcement to drop cross-appeals signals resolution of a years-long legal battle, restoring investor confidence

3. Global Adoption Expands with Dubai DFSA Approval

Beyond the U.S., RLUSD also secured approval from the Dubai Financial Services Authority (DFSA). This allows registered firms within the Dubai International Financial Centre (DIFC) — a major hub for the Middle East, Africa, and South Asia — to use RLUSD for payments, treasury, and other virtual asset services. With roughly 7,000 registered firms, RLUSD’s potential footprint in the region is significant.

With regulatory clarity, legal resolution, and global licensing momentum, RLUSD is growing at one of the fastest rates in the stablecoin sector. It is poised to become a key pillar in the future stablecoin landscape.

Solana Rises on ETF Approval Hopes — Staking Feature Adds Fuel to the Rally

Solana Rises on ETF Approval Hopes — Staking Feature Adds Fuel to the Rally

1. Solana Breaks Resistance on Optimism Over ETF Approval

Solana (SOL) is drawing increased attention from investors amid optimism over potential ETF approval and the possibility of staking rewards being included. According to CoinGape, Solana briefly surpassed $151, fueled by positive sentiment.

2. Staking Potential and ETF Approval Buzz

Anthony Scaramucci, head of SkyBridge Capital, hinted on social media that Solana’s ETF approval is imminent, and that it may include staking rewards. Staking, which rewards token holders for helping secure the network, could make the ETF product even more attractive to traditional investors by offering additional yield opportunities.

3. Solana ETF Could Accelerate Mainstream Adoption

If approved, Solana would join Bitcoin and Ethereum in holding a U.S.-based ETF product, marking a key milestone for mainstream acceptance. Analysts believe this would significantly enhance Solana’s appeal among institutional investors.

Rex Shares has already filed an application for a Solana ETF including staking features, while other firms are reportedly preparing similar products. With multiple Solana and XRP ETF filings under SEC review, some see Solana pulling ahead of XRP in the race for approval.

4. Quick Outlook

Solana’s ETF optimism and the prospect of staking functionality are simultaneously sparking interest from institutional and retail investors. While final approval may take time, Solana appears poised to become the next major player in the crypto ETF space.

BlackRock's Bitcoin ETF, IBIT, Emerges as the Most Profitable Product

BlackRock's Bitcoin ETF, IBIT, Emerges as the Most Profitable Product

1. BlackRock’s Bitcoin ETF, IBIT, Tops Profitability Charts

BlackRock’s Bitcoin ETF, IBIT, has become the most profitable product in its asset class. According to CryptoPolitan on the 28th, IBIT generated $186 million in annual revenue, surpassing BlackRock’s S&P 500 ETF, IVV, by $3 million.

Though IBIT and IVV track different markets, they show similar volatility, making them comparable in terms of risk. IBIT, in less than a year since its launch, is already regarded as one of the most successful ETFs in the industry, continually setting new records.

2. IBIT Reaches New Milestones in Transaction Fee Revenue

Analyst Nate Geraci pointed out that IBIT has set another milestone in transaction fee revenue. IBIT generates about $186 million annually, managing $75 billion in assets.

Its fee rate of 25bps is significantly higher than that of the S&P 500 ETF IVV, which charges 3bps. IVV generates about $183 million annually.

3. Bitcoin Volatility and IBIT’s Stability

Despite Bitcoin’s recent market volatility, IBIT has consistently recorded new fund inflows and remains a leader among ETFs. Eric Balchunas, an ETF analyst, compared the 60-day volatility and noted that while IBIT’s volatility was 5.7 times greater than the S&P 500 a year ago, the ratio has now converged to nearly 1. This suggests that Bitcoin’s volatility has decreased to levels nearly comparable to U.S. stocks.

4. IBIT’s Continued Growth and Stability

IBIT has achieved remarkable success in transaction fee revenue, positioning itself for continued growth in the Bitcoin ETF market. With increasing institutional inflows and Bitcoin’s volatility stabilizing, IBIT is expected to maintain strong growth potential. Despite market uncertainty, IBIT’s stable revenue structure continues to receive positive responses from investors.

U.S. Senate Aims to Finalize Crypto Legislation by September 30 — Stablecoin & Market Structure in Focus

U.S. Senate Aims to Finalize Crypto Legislation by September 30 — Stablecoin & Market Structure in Focus

1. Senator Tim Scott Sets Clear Deadline: September 30

Senator Tim Scott, Chairman of the Senate Banking Committee, announced that comprehensive cryptocurrency legislation is expected to be completed by September 30.

Speaking after a meeting with White House crypto advisor Bo Hines, Scott told reporters that the deadline is “a realistic goal.”

While this timeline comes later than former President Trump’s push for August, it is sooner than the year-end estimates suggested by some lawmakers.

2. Bill Overview: Dual Regulatory Focus on Market Structure & Stablecoins

The upcoming legislation is divided into two major categories:

① Comprehensive crypto market regulation: Defines how the market is built, which agencies supervise it, and what rules apply

② Stablecoin regulation: Addresses issuance and management of digital tokens pegged to fiat currencies like the U.S. dollar

This dual approach aims to close existing regulatory gaps and provide legal clarity for digital assets within the U.S.

3. GENIUS Act Clears Senate, But House Approval Still Pending

The Senate has already passed the GENIUS Act, with Scott urging the House to swiftly approve the bill and send it to the President’s desk.

Former President Trump has also expressed strong support for the legislation.

However, the House is still weighing its options

Rep. French Hill, Chair of the House Financial Services Committee, stated that the Senate’s GENIUS Act needs further alignment with the House’s stablecoin bill.

The House Agriculture Committee must also approve parts of the market structure component — a process that has not advanced as quickly.

4. Senate Momentum Strong, But House Negotiations Loom

While the Senate is showing clear urgency and commitment to passing the legislation, inter-committee coordination in the House remains a key challenge.

Differences in regulatory authority, terminology, and technical definitions between the Senate and House bills could lead to delays unless resolved through negotiations.