XRP price doesn’t budge as Ripple, Paxos get approved for national bank charters

Core Insights - The integration of crypto companies into the financial system is advancing, with five companies receiving conditional approval for national banking charters [1][2] - National bank charters provide significant advantages, including federal oversight and access to the Federal Reserve system, enhancing operational capabilities for crypto firms [2][5] Group 1: National Banking Charters - Five crypto companies, including Circle's First National Digital Currency Bank and Ripple National Trust Bank, have received conditional approval for national banking charters [1] - Companies like BitGo, Fidelity Digital Assets, and Paxos Trust Company are awaiting approval to transition from state charters to national charters [2] - National charters allow crypto companies to participate directly in payment systems, access the Fed's discount window, and potentially qualify for FDIC insurance [3][5] Group 2: Advantages of National Charters - National bank charters represent a significant upgrade from state trust company status, which operates under state regulations and lacks direct access to the Federal Reserve [4] - National banks benefit from federal oversight by the OCC and can establish branches across all 50 states without needing separate state licenses [5] - The federal banking system comprises over 1,000 national banks, controlling approximately 67% of all banking activity in the US, with combined assets exceeding $17 trillion [5] Group 3: Stablecoin Market Growth - The stablecoin market is experiencing rapid growth, reaching nearly $314 billion in 2025, with over $100 billion gained since January [6] - This growth is attributed to the Genius Act, which established the first federal regulatory framework for stablecoin issuers [6]