Ripple, Circle Push For Fed Access As $5.7 Trillion Stablecoin Surge Fuels Ambitions To Replace SWIFT, Says Industry Observer
Major digital asset firms and issuers of stablecoins, Circle Internet Group Inc. (NYSE:CRCL) and Ripple (CRYPTO: XRP) are aiming to become integral players in the banking system to show how crypto can now be used in banking, as highlighted by Anthony Agoshkov, co-founder of Marvel Capital.
What Happened: These firms have formally applied to the Office of the Comptroller of the Currency (OCC) for national trust bank charters, signaling a profound shift in the financial landscape.
This move indicates a clear ambition to transition beyond merely facilitating transactions, explains Agoshkov.
He argues that the sheer volume of stablecoin activity underscores their foundational role. “To me, the numbers say it all. Stablecoins moved over $5.7 trillion last year, and we’re already at $4.6 trillion halfway through 2025. That’s the core financial infrastructure,” he told Benzinga.
This staggering activity underpins Ripple and Circle’s “rational next move” towards deeper financial integration. The applications reveal a clear intent: stablecoin issuers, collectively holding billions in reserves, are no longer content with being mere …
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