Finance

BitGo, Ripple Join Wave of Firms Applying for US Bank Charters

Brad Garlinghouse, chief executive officer of Ripple Labs Inc.
Photographer: Shoko Takayasu/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Paige Smith, Teresa Xie, and Emily Mason

July 2, 2025 at 1:32 PM EDT

Updated on

July 2, 2025 at 6:24 PM EDT

Payments and stablecoin firm Ripple Labs Inc. and crypto custodian BitGo Inc. have applied for national bank charters, joining a crush of upstart financial services companies seeking such approval.

BitGo, which custodies billions of dollars in cryptoassets for clients, is weighing an initial public offering as soon as this year, Bloomberg News previously reported.