Opinion: Ripples application for a Fed master account is more significant than its application for a national bank license

By: odaily.com|2025/07/03 03:06:25

Odaily News Eleanor Terrett, a crypto journalist, commented on Ripples application for a national bank license submitted to the Office of the Comptroller of the Currency (OCC). In addition to the application, Ripple has also applied for a Federal Reserve master account through Standard Custody, a trust company it acquired last year. Obtaining a Federal Reserve master account means more in terms of access rights than obtaining an OCC license. In terms of hierarchy, a master account is diamond, a bank license is platinum, a trust company is gold, and a money transmission license is silver.
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