US politician and former Congressional candidate Greg Kidd says he is working on a banking charter that will allow companies such as Ripple to obtain banking licenses.
Kidd, co-founder of Haka Yaka Ventures and owner of Vast Bank, mentioned this at a meeting in XRP Las Vegas. In a one-on-one interview with journalist Eleanor Terrett, Kidd discussed his involvement in politics and revealed his efforts to introduce this new type of banking charter.
New Banking Charter to allow Ripple to obtain banking licenses
Kidd said he is no longer running for office, but he is It still works Closely about financial law. He is currently focusing on creating a special charter that is strictly designed for banks that deal only with deposits and payments. Eliminate the need for physical branches and loans.
Ripple can be licensed for banking.
Because with Xrpledger, the cost of the payment price is almost zero.
Payments should not be universally accessible and there is no reason to zero price charges. It’s like the public interest.Banks are basically like…pic.twitter.com/hznsfpzpkd
– June 12, 2025
This idea is intended to make digital-first businesses easier to enter the space. He said the new approach gives companies like Ripple a path to owning a banking license, despite making it clear that they have not proposed to speak to or apply for Ripple.
In particular, his bigger goal is to break the advantages that new companies have, whether held by traditional banks, digital wallets, remittance companies, or even large retailers, make banking more accessible.
Greg Kidd: Moving money must be minimal
Furthermore, Kid’s cost of processing XRP ledger payments is Almost zerotherefore the price of the transfer should reflect that. he I’ll see Payment as necessary work Like utility: low cost and Available To everyone.
Interestingly, Kidd criticized the current system. In the current system, a small number of people, including himself and Jackie, have been able to secure banking licenses under the Biden administration.
American entrepreneurs sought a return to an era where competition, innovation and inclusion were driving the banking sector. Financial crisis 2008 It confused it.
Ripple and the banking scene
Meanwhile, Ripple is already moving within the banking sector. June 2024, Company It became Platinum member of the American Bankers Association (ABA).
Ripple Platinum Member of the American Bankers Association
This top membership provides greater visibility and greater access to bank leaders and policy makers through Ripple. putting Blockchain Payment Company in Better Location It affects the direction of financial services.
Additionally, Ripple CEO Brad Garlinghouse speaks at the same Las Vegas event. Confirmed The company plans to rewire its banking system. According to him, Ripple want To help the bank Move Faster and more money Cheap by I’ll cut it off With the intermediary delete Need for pre-funded accounts.
Garlinghouse emphasized that Ripple is not aiming to replace the bank. Instead, the company want In work With them Speed up Simplify cross-border payments.
Put the banking industry on-chain
Meanwhile, during his interview, Kidd also Discussed A vast bank, his latest venture. He decided to buy a US bank. Put real US dollars directly into the blockchain.
He believes this will replace outdated bank ledgers with secure, real-time records on networks such as XRP ledgers. These on-chain dollars are backed by FDIC insurance and regulatory protection. Available To people all over the world.
Kidd also revealed that he has invested in the Bank of London and has signed a deal in Europe. His goal is to bring the dollar, pound and euro into the blockchain network. By becoming bank can Open 24/7, non-stop with digital money that never leaves the chain.
