October 2025 — Ripple’s historic bid for a U.S. national bank charter is now entering its final review stage, with a potential decision expected by early November 2025. The application, filed with the Office of the Comptroller of the Currency (OCC) on July 2, 2025, falls under the regulator’s 120-day review window. If approved, Ripple National Trust Bank would be among the first blockchain-linked institutions to gain direct access to the Federal Reserve’s payment systems, including FedWire and FedACH.
Integration of XRP Into U.S. Banking
Approval of Ripple’s charter could accelerate the formal integration of XRP as a settlement asset within U.S. financial infrastructure. This would allow institutions to leverage XRP’s speed and efficiency across cross-border and domestic settlement channels, effectively bridging the gap between traditional banking rails and blockchain technology. Analysts suggest that this move could set the stage for XRP to be recognized not only as a bridge currency globally, but also as a regulated settlement tool inside the United States.
RLUSD Growth and Reserve Backing
Ripple’s stablecoin, RLUSD, launched in late 2024, has seen rapid adoption.
RLUSD circulation stood at approximately $470 million in mid-2025.
By September 2025, the supply had surged past $700 million, highlighting accelerating demand.
The reserves backing RLUSD are held at BNY Mellon, one of the world’s largest custodians with over $50 trillion in assets under custody, underscoring institutional-grade security for Ripple’s dollar-pegged token.
This growth in stablecoin adoption complements Ripple’s bid for banking infrastructure, providing regulators with evidence of practical demand for compliant digital payment instruments.
BanxChange and the BXE Token
Running parallel to Ripple’s regulatory pursuit is the rapid growth of BanxChange.com, a platform that allows institutions and individuals to tokenize assets on the XRP Ledger in under five minutes. BanxChange has already launched two flagship programs:
Institutional Tokenization (live since August 2025), where every token launch burns 1,000 BXE, and institutional onboardings burn up to 10,000 BXE.
Decentralized Media (live since September 2025), which rewards citizen journalists in BXE while burning 100 BXE per approved article.
The ecosystem is powered by the BXE Token, a fixed-supply utility token with 500 million total supply and ongoing burn mechanics that reduce circulating supply as adoption expands.
November 14: A Double Milestone
Crucially, November could prove historic not only for Ripple but also for BanxChange. On November 14, 2025, the BXE Token will make its debut on its first centralized exchange, coinciding almost exactly with Ripple’s expected OCC decision. This alignment could amplify attention on the XRP Ledger as both institutional banking integration (via Ripple) and grassroots adoption (via BanxChange and BXE) converge.
Outlook
If Ripple secures its charter in early November, the combination of XRP integration into U.S. banking and BXE’s centralized exchange launch will send a powerful signal to institutions and retail participants alike: the XRP Ledger is no longer a parallel network, but an increasingly regulated, global financial backbone. Industry observers note that November 2025 may be remembered as the inflection point where Ripple, XRP, BanxChange, and BXE Token reshaped digital finance together.