Kraken’s recent regulatory breakthrough has sparked widespread discussion within the cryptocurrency community about whether Ripple might be the next to achieve a similar feat.
Although no official announcement has been made, obtaining access to the Federal Reserve’s core payment infrastructure would represent a major development for Ripple.
Kraken’s Federal Reserve Access Shines Spotlight on Ripple
Just yesterday, BeInCrypto revealed that Kraken’s banking division, chartered in Wyoming, successfully gained entry to the Federal Reserve’s central payment systems. This marks Kraken as the first crypto company ever granted a master account with the Fed.
This achievement follows Kraken receiving its Special Purpose Depository Institution (SPDI) charter from Wyoming back in September 2020. The firm then applied for a master account at the Federal Reserve Bank of Kansas City in October 2020 and finally secured approval recently.
The news has shifted attention toward Ripple. Journalist and social media influencer Paul Barron recently suggested on X that Ripple could be poised for comparable access soon. Several other experts have expressed similar opinions.
Ripple submitted an application for both a national trust bank charter and a Federal Reserve master account in July 2025. By December, BeInCrypto reported that it had received conditional approval from the Office of the Comptroller of Currency (OCC) regarding its bank charter request.
Barron described acquiring this bank charter as merely “setting up.” He added that direct access to Fed systems would complete $RLUSD's transition into full-scale banking operations.
“The momentum behind the 'CLARITY Act' is compelling action from the Fed. Observing developments through DC insiders reveals shifting tides. The conflict between crypto firms and traditional banks may have ended, but new challenges are emerging,” he stated.
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An additional analyst known as X Finance Bull commented that while timelines vary, both companies aim toward identical goals.
“Kraken already integrated Ripple's stablecoin $RLUSD into their payments platform — this is no coincidence but rather infrastructure alignment. Why did Kraken receive approval first? Simply because they applied years earlier: Wyoming SPDI license obtained in 2020 followed by routing number issuance in 2022.
They have been awaiting Fed authorization since then.
Ripple filed their application later—in July 2025—via Standard Custody,
and got OCC nod last December,” explained X Finance Bull.
🚨️@krakenfxjus…
a crypto native bank can now connect directly to fedwire.
if a @ripple connected bank gets… &xrp&amp;amp;amp;amp;xrp&;amp;;amp;;amp;;;… pic.twitter.com/pqgaXLG4JX, said CryptoSensei (@Crypt0Senseii) March 4th ,2026</ p & gt ;
If Ripples Gains A Master Account With The Fed: What Could It Mean For $XRP?