Fact or Fiction: Is Ripple Becoming a Bank?

The crypto community is fired up again – this time, over rumors that Ripple could be planning to get a U.S. banking license. The chatter started after a clip from XRP Las Vegas 2025 made the rounds online, sparking wild speculation that the payments giant might be gearing up to enter traditional banking.

But is any of it true? Let’s unpack what’s fact, what’s fiction, and what’s worth watching.

The Viral Clip That Set Off the Rumors

It all started with a tweet quoting journalist Eleanor Terrett during a panel at XRP Las Vegas. In the clip, the discussion turns to the idea of Ripple becoming a bank. The tweet read:

“Ripple could get a banking license. Because the cost of price in payments is almost zero on the XRPLedger…Banking is just basically like breathing the air.”

That was enough to send speculation into overdrive. Crypto Twitter quickly picked up the idea, with some users claiming it was already in motion. But there’s a problem – Ripple hasn’t said anything.

There’s no official statement, no filings, and no confirmation that a banking license is even being considered.

Greg Kidd’s Role in the Conversation

Adding to the speculation was Greg Kidd, an early Ripple investor and former U.S. congressional candidate. At the same event, he spoke about a new kind of bank charter – one aimed at digital-first companies.

Kidd explained that this charter wouldn’t require companies to have physical branches or offer lending services. Instead, it would focus on deposits and payments only.

While it’s an interesting idea, Kidd made it clear: he’s not speaking on behalf of Ripple, and the charter is still in development. That hasn’t stopped the XRP community from connecting the dots.

Ripple’s Real Banking Moves

Even if Ripple isn’t applying for a license just yet, it’s definitely been making moves in the banking world.

Last year, Ripple became a Platinum Member of the American Bankers Association – a move that gives the company more access to financial decision-makers and regulators.

CEO Brad Garlinghouse has also made Ripple’s position clear: they’re not trying to replace banks, they’re trying to work with them. At the Las Vegas event, he again stressed Ripple’s mission to fix cross-border payments – making them cheaper, faster, and more efficient by cutting out unnecessary middlemen.

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Legal Hurdles Might Be About to Clear

Ripple’s long-running legal battle with the SEC could also be nearing a turning point, even though they have clearly won the largest points of contention. Attorney John Deaton recently said there’s a 70% chance that Judge Analisa Torres will approve a settlement deal and relief request.

If that happens, Ripple would be in a stronger position to expand its reach – potentially even under the kind of charter Kidd is working on.

Bottom Line

Right now, the idea of Ripple becoming a bank is just that – an idea. There’s no confirmation. No paperwork. No public plans.

But the interest isn’t coming out of nowhere. Between Ripple’s ties to traditional finance and Greg Kidd’s new charter, there’s clearly movement happening around the edges of the banking world. Whether Ripple takes that step or not remains to be seen.

For now, it’s all eyes on what Ripple says, or doesn’t say, next. We’ll be watching and filling you in! 

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