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.

(Reuters) -Crypto firm Ripple is applying for a national bank charter in the U.S., its CEO Brad Garlinghouse wrote in a social media post on Wednesday, shortly after a similar step by stablecoin giant Circle.

The application follows stablecoin issuer Circle's similar effort to expand crypto services and move into federal regulatory oversight.