The inclusion of US Treasury Secretary Scott Bessent among the speakers at Ripple’s Swell 2026 conference has drawn attention to XRP in the cryptocurrency sector. Crypto analyst Stern Drew suggested that this development may be linked to the US’s goals of reshaping the global financial system.
Stern Drew recalled that Bessent had previously stated that the global economy could be restructured on a scale similar to the Bretton Woods Agreement. According to the analyst, the US administration’s approach to stablecoins, artificial intelligence, and blockchain technologies indicates that the traditional financial infrastructure could undergo a comprehensive transformation.
Bessent’s inclusion in the program of the Ripple Swell conference, held in New York from October 27-29, has brought these assessments back to the forefront. The event program includes a meeting between Bessent and Ripple CEO Brad Garlinghouse.
Ripple’s Banking Approval in the US Attracts Attention
Amidst these developments, on October 26, Ripple announced that it had received final approval from the US Office of the Comptroller of Currency (OCC) to establish Ripple National Trust Bank.
According to the company’s statement, the new entity will manage the reserves supporting Ripple’s RLUSD stablecoin, act as a collateral agent for the reserves, and be able to offer digital asset custody services to institutional clients. However, this authorization does not mean it is permitted to collect deposits or grant loans like traditional commercial banks.
Stern Drew argued that this approval shows Ripple has transformed from a company developing only cross-border payment solutions into a broader financial infrastructure provider.
The analyst noted that Ripple’s areas of operation have expanded from payments and custody services to treasury management, brokerage activities, tokenization, and debt markets.
Ripple’s possession of over 75 regulatory licenses globally is also considered a key part of its strategy to integrate with traditional financial institutions.
The GENIUS Act, passed in the US, provides a crucial regulatory framework for this transformation. Under the law, issuers of payment-oriented stablecoins are required to back their circulating assets with at least a one-to-one ratio of cash, eligible US Treasury bonds, and other permitted liquid reserve assets.
According to Drew, this structure could more closely link the growth of dollar-backed stablecoins to the US Treasury market, increasing the importance of companies like Ripple in the new financial infrastructure.
Another topic highlighted by the analyst was the privacy and digital identity solutions developed on the XRP Ledger (XRPL).
Drew specifically highlighted the potential of technologies developed by DNA Protocol to enable financial institutions to protect credentials and sensitive data when conducting transactions on the blockchain.
The project aims to allow users to verify certain information without disclosing all their personal data, through zero-knowledge proofs and verifiable digital credentials. However, current implementations of the project are in the experimental phase and its widespread adoption by enterprises has not been confirmed.
The analyst also cited the work of JPMorgan, BlackRock, and the Bank for International Payments (BIS) on digital identity, tokenization, and blockchain-based financial infrastructures as indicators of this trend. However, there is no confirmed statement that these institutions are directly collaborating with DNA Protocol or that Ripple will play a central role in the future financial system.
Drew believes that Ripple’s expansion into banking, stablecoins, and corporate finance, following years of legal battles with the SEC, could mark the beginning of a new era for the company.
According to the analyst, these developments are not limited to the cryptocurrency market alone. Ripple’s actions may be part of a broader financial transformation where traditional banking and blockchain technologies are becoming increasingly intertwined.
*This is not investment advice.
