A major development for the cryptocurrency market has arrived as the U.S. Office of the Comptroller of the Currency (OCC) issued new guidance permitting national banks and federal savings associations to engage in cryptocurrency activities, including buying, selling, and custody services. This signifies a significant shift towards legitimization and adoption for digital assets like XRP, according to analysts. The OCC’s interpretation letter, known as Interpretive Letter 1183, confirms that these institutions can now offer cryptocurrency custody and execution services to their customers. This empowers banks to buy and sell cryptocurrencies on behalf of clients and even outsource these services to third parties.