Ripple's Banking Charter Progress Sparks Debate Among Crypto Experts

Morgan Creek Capital's Managing Director Mark Yusko has sparked debate in the crypto community with his recent comments on Ripple's proposed bank launch. Speaking on a podcast, Yusko stated that he doesn't think Ripple will achieve what it promises, and instead opted for Robinhood as a more likely candidate to succeed.

However, Ripple's progress towards its banking charter has been substantial. The company received conditional approval from the Office of the Comptroller of the Currency (OCC) in December 2025, paving the way for it to operate as a federally regulated fiduciary. This approval is part of the OCC's final rule on national trust bank activities, which took effect in April 2026.

Ripple has been actively building its institutional infrastructure, with over $2.7 billion spent on acquisitions. These purchases include Hidden Road, a clearing and prime brokerage firm, GTreasury for cash management, and Rail for stablecoin issuance. The company's ambition to dominate regulated stablecoin infrastructure is evident in its attempted acquisition of Circle in 2025.

The launch of Ripple's bank will provide the company with direct access to institutional clients, reducing legal friction and increasing adoption. XRP functions as a bridge currency for cross-border settlement on the XRP Ledger, while RLUSD, Ripple's stablecoin, is already live and expanding across payment rails and institutional use cases.