INSUBCONTINENT EXCLUSIVE:
Crypto firm Ripple Labs is applying for a banking license in the US, following a similar move by stablecoin issuer Circle Internet Group as
company is applying for a license with the US Office of the Comptroller of the Currency (OCC), following an earlier report by The Wall
just two days after Circle, which issues the second-largest stablecoin USDC (USDC), applied to the OCC to create a national trust bank that
would oversee its stablecoin reserves.The move by both firms comes as the US Senate passed a stablecoin regulating bill called the GENIUS
Act, which lays out standards for offering the US dollar-pegged tokens, including that the OCC will oversee larger stablecoin issuers.Circle
crypto from the financial system.Ripple applied for the account through Standard Custody, a crypto custody firm it acquired in February
products, has risen 3.2% over the past day to trade at $2.24, according to CoinGecko.The token began to climb late on Wednesday before
