Crypto Giants Like Ripple and Circle Accelerate Entry into U.S. Banking Sector, Leveraging National Trust Bank Charters to Build Stablecoin Financial Systems

ChainCatcher reports that, according to the Financial Times, driven by the Trump administration’s favorable stance toward digital assets, crypto companies such as Ripple, a certain exchange, and BitGo are accelerating their expansion into traditional U.S. banking. The three companies have applied for national trust bank licenses, aiming to offer custody and payment processing services, operate nationwide, and bypass state-by-state regulatory restrictions.

Among them, the exchange plans to establish the “First National Digital Currency Bank” to strengthen USDC infrastructure and comply with the requirements of the GENIUS Act; Ripple is applying for a Federal Reserve master account to directly hold reserves for its stablecoin. Although the exchange has not applied for a full banking license, it intends to launch debit and credit card products by the end of the month, focusing on the integration of crypto and traditional finance.

Analysts note that progress in stablecoin legislation and a more relaxed regulatory environment are driving this trend, though the approval process remains uncertain.