According to CoinMeta, Ramp has announced that it has applied to OCC for the establishment of a Ramp national trust bank. If approved, this license will allow it to Ramp. It is stated that they will not accept deposits or issue commercial loans. This is the latest case in a series of company applications for banking licenses this year, with Revolut and Crypto.com having already received conditional approvals. Ramp was most recently valued at $60 billion, with annual revenue reaching $2 billion.