Ripple has chosen BNY Mellon to serve as the custodian for its USD reserves. This partnership aims to enhance Ripple's operational efficiency and secure its financial assets as the company continues to expand its services in the digital currency space.

Ripple has applied for a national banking license from the Office of the Comptroller of the Currency to expand its crypto services under federal regulation, following a similar move by stablecoin issuer Circle. The news led to a 3% increase in the value of XRP, and Ripple is also seeking a master account at the Federal Reserve to enhance the security of its stablecoin reserves.

Ripple is seeking a national banking charter, which would place it under the regulation of the Office of the Comptroller of the Currency (OCC). Additionally, its subsidiary, Standard Custody & Trust Company, has applied for a Federal Reserve master account to facilitate the direct custody of reserves and stablecoin operations.

Ripple co-founder Chris Larsen has transferred approximately 50 million XRP, worth about $161 million, to exchange-linked addresses over the past week. Despite these movements, Larsen still controls around 2.81 billion XRP, valued at nearly $9 billion. Recent onchain activity has drawn attention due to the significant concentration of supply among early Ripple insiders.

The Ripple cryptocurrency library "xrpl.js" was compromised, allowing attackers to steal XRP wallet seeds and private keys through malicious code in several versions. Users are urged to upgrade to the clean version 4.2.5 immediately to mitigate potential theft of funds. The attack resembles previous supply chain threats faced by other cryptocurrency libraries.