Ripple already holds more state licenses than most of its rivals combined. That advantage may soon matter less than a single piece of federal legislation working through Congress.

The PACE Act would give nonbank payment firms unmediated access to Fedwire, FedNow and FedACH, the core payment rails the Federal Reserve operates.

Ripple and Circle stand out as the two companies named specifically as the biggest beneficiaries of the bill. That distinction matters because access to these rails currently runs through a separate, much slower process.

Crypto analyst ChartNerd explained the shift plainly in a tweet. The PACE Act would give Ripple “a much faster, clearer route of direct access to Federal Reserve payment rails (FedNow, etc).” He added that it would let Ripple avoid the Fed’s existing review track entirely, calling it a change that “would literally reduce Ripple’s dependence on correspondent banks.”

GM! —If the PACE Act passes, it'd give @Ripple a much faster, clearer route of direct access to Federal Reserve payment rails (FedNow, etc). Instead of waiting in the Fed's master account review process; it would literally reduce Ripple's dependence on correspondent banks $XRP https://t.co/YuFlQSlk37 pic.twitter.com/jZlPl1zPiQ

— ChartNerd (@ChartNerdTA) August 10, 2026

A Queue With Almost No Precedent

Ripple has a master account application pending with the Federal Reserve, and it is in the Fed’s slowest review category. Only two uninsured institutions have ever received full access through that track. There is no fixed timeline attached to it, and no guarantee of approval at any point.

The PACE Act changes that structure. It introduces a 360-day statutory clock, a fixed deadline that does not currently exist for firms in Ripple’s position. As it stands now, the bill is the only proposal on the table that could let Ripple bypass the open-ended queue altogether and compress a process that could otherwise take years into a matter of months.

Licenses Already In Place

Ripple is not starting from zero on the regulatory side. Crypto commentator BankXRP pointed to the company’s existing footprint, noting that Ripple holds over 50 money transmitter licenses across the US, exceeding requirements set by the PACE Act. BankXRP described that coverage as “regulatory coverage most competitors can’t match.”

That licensing base means Ripple would not need to build new state-level infrastructure if the PACE Act passes. The company’s compliance groundwork is already in place at a scale that exceeds what the legislation itself would require.

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What Passage Would Change

If the PACE Act becomes law, Ripple’s relationship with the Federal Reserve would shift from an indefinite waiting period to a bounded one. The 360-day clock replaces uncertainty with a fixed endpoint, and Circle stands alongside Ripple as one of the two companies the bill was written to accommodate.

For a company that has spent years pursuing a master account without a resolution, a statutory deadline represents a structural change rather than a procedural one. Combined with an existing base of more than 50 money transmitter licenses, Ripple’s position heading into any vote on the PACE Act reflects preparation that predates the legislation itself.

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