July 2 (Reuters) - Crypto firm Ripple is applying for a

national bank charter in the U.S., its CEO Brad Garlinghouse

wrote in a social media post on Wednesday, shortly after a

similar step by stablecoin giant Circle.

The move reflects a broader push by crypto firms for

regulatory clarity and deeper integration with the traditional

financial system.

A charter would allow crypto companies to settle payments

faster and cut costs by bypassing intermediary banks, while also

providing a stamp of legitimacy after years of what they claim

has been regulatory sidelining.

Ripple's charter will need to be approved by the Office of

the Comptroller of the Currency, a top banking regulator.

The OCC did not immediately respond to a Reuters request for

comment.

The company is also seeking a Fed Master account that would

give it access to the Federal Reserve's payments infrastructure

and allow it to hold its stablecoin reserves directly with the

central bank, Garlinghouse wrote on X.

Ripple launched its stablecoin, RLUSD, in October last year.

While much smaller than dominant players Tether and Circle's USD

Coin, RLUSD still ranks among the biggest stablecoins by market

value, according to data from CoinMarketCap.

Ripple, founded in 2012, operates a blockchain that

facilitates crypto payments. Besides its stablecoin, it also

runs the XRP cryptocurrency.

Earlier this week, stablecoin firm Circle also said it is

applying to create a national trust bank in the U.S., weeks

after its robust initial public offering.