What a Fed Master Account Could Mean for Ripple and XRP

Explore how Kraken's historic Federal Reserve master account could pave the way for Ripple's potential approval, impacting XRP and the cryptocurrency landscape.

Speculation is swirling in the cryptocurrency community today as Kraken, the well-known cryptocurrency exchanges , becomes the first firm to secure a Federal Reserve master account. While this news is certainly significant for Kraken, it opens up the intriguing question: could Ripple be following in its footsteps? With Ripple having filed its own application for a Fed master account back in 2025, there are hopes that similar approval could be on the horizon. Could Ripple Gain Access to the Fed's Core Payment System? Earlier today, Kamina Bashir reported for BeInCrypto that Kraken's recent regulatory achievement has shifted focus to Ripple. After securing a special banking charter from Wyoming in 2020, Kraken applied for a master account with the Federal Reserve Bank of Kansas City, which was approved just yesterday. This momentous milestone has sparked discussions within the crypto realm, with analysts positing that Ripple might be next in line for such access. Ripple's journey towards gaining a Fed master account began in July 2025 when the company applied for a national trust bank charter alongside the master account request. Last December, Ripple received conditional approval from the Office of the Comptroller of the Currency (OCC) for that charter. Commentators like Paul Barron have stressed that Ripple's establishment of the banking charter was a key step, with direct access to the Fed's systems being the "final piece" of their operational puzzle. “The ‘CLARITY Act’ momentum is forcing the Fed’s hand,” said Barron. “The tide is shifting. The ‘Crypto vs. Banks’ battle is over. But the war is just beginning.” What Happens if Ripple Secures a Fed Master Account? While many are eagerly anticipating Ripple's potential approval, it's important to remember that it is not guaranteed. Kraken's success does not automatically mean that Ripple will receive the same treatment. In fact, Ripple still awaits full approval from the OCC, and if it does get the nod, the timeline