02:13 PM EDT, 07/02/2025 (MT Newswires) -- Shares of major crypto-related companies including MicroStrategy ( MSTR ) , Coinbase (COIN), and MARA (MARA) rose Wednesday after Ripple has applied for a national banking license with the US Office of the Comptroller of the Currency, The Wall Street Journal reported Wednesday.

The application aims to bring Ripple's dollar-backed stablecoin, RLUSD, under federal regulation. The stablecoin, launched in 2023 and currently overseen by the New York Department of Financial Services, has a market cap of approximately $469 million, the report said.

The move places Ripple alongside other crypto firms, which are seeking clearer regulatory status ahead of expected legislation that would require stablecoin issuers to hold bank licenses, the Journal said.

Separately, Ripple's subsidiary Standard Custody & Trust Company applied Monday for a Federal Reserve master account, which, if approved, would allow Ripple to directly custody stablecoin reserves with the Fed and handle redemptions beyond standard banking hours, according to the report.

Ripple didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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