Trump fast-tracks Fed master account for RLUSD on XRP
A new Executive Order signed by Donald Trump has compressed a multi-year XRP timeline into less than three months.
Up to five years compressed to 90 days.
Thanks to a new Executive Order signed by Donald Trump, Ripple’s Fed master account application timeline just shrunk from up to 5 years to no more than 90 days.
💥 BOOOOOOOOOOOOOOOOMMM!!
Ripple’s subsidiary Standard Custody and Trust Company, the entity behind the official Ripple USD XRP Ledger-based stablecoin, has been waiting 14 months in the New York Fed’s queue with no statutory deadline for approval or denial. That all changed this week.
“Review the application now,” Trump ordered. “No more indefinite review timelines.”
Specifically, section 4(c) of his new presidential Executive Order requires The Board of Governors of the Federal Reserve System “to make determinations with respect to complete applications within 90 days of the application date” for US Federal Reserve master banking account access.
The Fed’s old indefinite-pending tactic, which it used to keep Custodia waiting two years before denial and Kraken waiting five years before approval, is gone!
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XRP Premium Analysis
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