Circle Secures National Trust Bank Charter, Spotlight Turns to Whether Ripple Is Next
Circle has obtained a national trust bank charter, a regulatory milestone that is prompting observers to ask whether Ripple will pursue or receive a similar designation. The development is seen as a marker of accelerating regulatory legitimacy for stablecoin issuers operating in the United States.
Circle has been granted a national trust bank charter, a move that positions the stablecoin issuer within the formal US banking regulatory framework. The milestone is notable because it establishes a precedent for crypto-native firms obtaining bank-level charters, which carry different compliance obligations and credibility signals compared to standard money transmitter licenses.
The development has prompted direct comparison to Ripple's regulatory standing, with sources raising the question of whether Ripple is pursuing or is positioned to receive a similar charter. Ripple already issues RLUSD and has sought regulatory clarity in multiple jurisdictions, making a national trust bank charter a plausible next step in its institutional strategy.
The Clarity Act was also referenced in the same context, described as being on the one yard line with a new version expected soon. If passed, the Clarity Act would provide a clearer legislative framework distinguishing digital commodities from digital securities, which would have direct implications for how Ripple and RLUSD are regulated going forward.
Key facts
- •Circle has received a national trust bank charter
- •Sources are asking whether Ripple will pursue a similar charter
- •The Clarity Act is described as near completion with a new version expected
- •Ripple issues RLUSD and has an active regulatory engagement posture in the US