Donald Trump has signed a new executive order that could significantly impact the cryptocurrency market in the United States. The move focuses on whether crypto companies should gain broader access to the U.S. dollar payment system. According to industry experts, one of the biggest winners of these changes could be Ripple and its cryptocurrency, XRP.
On May 19, Trump instructed federal regulators to review whether current regulations are making it unnecessarily difficult for fintech and crypto companies to work with banks, credit unions, and investment advisors. Government agencies now have 90 days to examine the existing rules and identify potential barriers.
In addition, the Federal Reserve has been given 120 days to prepare a report on how crypto companies could access the Fed’s payment infrastructure. The report is expected to explore whether these firms could use the system directly and what potential risks such access might create.
For Ripple, this could become a breakthrough moment. The company has spent years developing XRP as a fast and low-cost solution for international payments, primarily targeting banks and financial institutions. However, one of Ripple’s biggest limitations has been restricted access to the Federal Reserve’s payment infrastructure.
At the moment, direct access to Fed payment accounts is largely limited to traditional banks. Because of this, companies such as Kraken, Coinbase, Circle, and Paxos have been pursuing special banking licenses. Recently, Kraken received approval to access a Fed account.
Ripple has also been expanding its position within the U.S. banking system. The company recently secured conditional approval for a national banking license from the OCC.
If the Federal Reserve eventually allows crypto companies direct access to the payment system, XRP could potentially serve as a bridge asset for real-time dollar settlements. Such a development could increase both the importance and demand for the cryptocurrency.
For investors, this may signal that the United States is beginning to embrace the type of financial solutions Ripple has been building for more than a decade.
