Ripple (XRP), the FED made a major move regarding the lawsuit!

Ripple (XRP) continues to make big moves. At this point, Ripple has applied for a national bank license in the US following a similar move by stablecoin giant Circle.

While this move is seen as a significant development for Ripple, Fox Business reporter Eleanor Terrett highlighted an even more important development.

Eleanor Terrett stated that Ripple applied for a FED master account through the crypto custody company Standard Custody it acquired last year, and that this is a much bigger event.

Terrett argued that granting access to a FED master account is greater and more significant than a banking license. This is because a FED master account provides direct access to a payment system that is a significant step beyond an OCC charter.

Terrett, stating that the FED has historically refused to grant such access permissions to crypto companies, also added that a decision is expected in the ongoing case between Custodia Bank and the FED.

"The granting of a Fed master account in terms of access is a much bigger event than the granting of an OCC charter."

A banking lawyer described it to me this way: "In terms of layers, a main account is Diamond, bank is Platinum, trust companies are Gold, and money transfer licenses are Silver."

The FED has historically resisted providing cryptocurrency companies with direct access to the payment system. Currently, in a case concerning the access of deposit institutions to master accounts, (Custodia Bank -FED ) is defending this stance, and a decision is expected at any moment.

If Ripple's main account application to the FED is accepted, it will provide access to the Federal Reserve's payment infrastructure and allow it to hold RLUSD stablecoin reserves directly at the central bank.

In addition to applying for an OCC trust charter, @Ripple has also applied for a Fed master account through the trust company it acquired last year — @StandardCustody — which I reported Monday (see below — although I admittedly missed the Ripple connection 😬).

Being granted a… pic.twitter.com/LHQMMARGlC

— Eleanor Terrett (@EleanorTerrett) July 2, 2025