US-based cryptocurrency exchange Kraken recently received direct access to the Federal Reserve’s core payment infrastructure. Kraken, which holds a special banking-related license in Wyoming, became the first crypto company to integrate with the Fed’s main account system. This development is being watched carefully as it opens up new opportunities for different companies in the crypto industry.
Ripple’s Banking Moves Drawn Eyes
After Kraken gained access to the Fed, all eyes turned to whether Ripple would take a similar step. Ripple; It is known as a technology company that develops banking and payment technologies and aims to accelerate cross-border money transfers in the sector. The company applied for a national trust banking license and Fed master account in July 2025, and received conditional approval from the Office of the Comptroller of the Currency in December.
Journalist and social media commentator Paul Barron, who shares on X, argued that Ripple’s direct integration with the Fed could be a critical threshold for the payment ecosystem. Barron, these developments
“The momentum generated by the ‘CLARITY Act’ is forcing the Federal Reserve into a new position. The dynamics in Washington are changing; the power struggle between finance and crypto appears to have moved to a new phase.”
He evaluated it as follows.
What Do the Differences Between Kraken and Ripple Mean?
Another evaluation by X Finance Bull pointed out that Kraken’s RLUSD stablecoin integration shows that the two companies are infrastructurally connected. The analyst stated that the Wyoming banking license obtained in 2020 and the preparation processes brought by this license were effective in Kraken gaining this access. In the same evaluation, it was stated that although Ripple has already applied, the approval process may take time.
“Kraken made its application years ago. The Wyoming bank license was obtained in 2020, the routing number appeared in 2022. Ripple applied for Fed access in 2025; it is an important step for the trust bank to receive approval from the OCC in December.”
His words were included.
Currently, Ripple has not received full approval from the OCC; Therefore, it remains unclear when the Federal Reserve will make a similar decision or what path it will follow. It is anticipated that the authorization process may take years, as in the Kraken example.
What Could the Fed Main Account Mean for XRP?
Ripple’s ownership of the Fed main account means it gains access to the center of the US financial system. This may allow the company to make dollar transfers faster. However, it is stated that the impact of this approval on the XRP crypto asset will be indirect.
The XRP Ledger system used by Ripple uses XRP as a short-term bridge currency in international transactions. The Fed main account can especially increase the speed of fiat money transfers in this infrastructure and enable Ripple to offer an attractive solution to its corporate customers.
However, the Fed’s payment networks and XRP Ledger operate independently of each other. Since it is not possible to transfer XRP directly via FedWire or FedNow, it is reported that the benefit to be gained will mostly be the speed and convenience of fiat money entry and exit processes. Therefore, it is emphasized that the growth in XRP’s usage area does not depend only on main account access.
In summary, while the Fed main account approval is an important milestone for Ripple, it is suggested that its impact on XRP’s real-world functionality may occur in an indirect way over time.
