The trio serve somewhat different functions within the crypto ecosystem, but they’re all jockeying to get in line with shifting federal regulations and claim the spoils of America’s banking system. If the OCC’s history is anything to go by, their applications likely will be approved.

Ripple has applied for a national banking license, joining the rush of cryptocurrency companies seeking to cross the divide into mainstream finance. Ripple, which manages cross-border payments and a dollar-backed stablecoin called RLUSD,

Crypto firm Ripple is applying for a national bank charter in the United States, its CEO Brad Garlinghouse wrote in a social media post on Wednesday, following a similar move by stablecoin giant Circle .