Ripple wins final OCC approval for its national trust bank
The OCC has given final approval to Ripple National Trust Bank, which will manage RLUSD reserves and offer custody. What it can and can't do, and what's next.
CryptoGroup Newsroom · · 3 min read
The Office of the Comptroller of the Currency (OCC) has given Ripple final approval to charter Ripple National Trust Bank (RNTB), a federally supervised trust bank that will look after the reserves of the company's RLUSD stablecoin. Ripple announced the decision on Monday, Oct. 26, and CEO Brad Garlinghouse shared it on X.
What the bank is allowed to do
According to Ripple, the approved activities are:
- managing the segregated reserves that back Ripple USD (RLUSD);
- acting as collateral trustee of those reserves for the benefit of RLUSD holders;
- providing fiduciary digital-asset custody for companies that use crypto in payments, trading and treasury operations.
RLUSD itself will keep being issued by Standard Custody & Trust Company, Ripple's limited-purpose trust company regulated by the New York Department of Financial Services. The new bank adds OCC supervision on top, so parts of the stablecoin's setup now answer to both a state and a federal regulator.
As The Block notes, a national trust charter is not a full commercial banking licence: RNTB cannot take deposits or make loans.
How long it took
Ripple applied for the charter in July 2025 and won conditional approval on Dec. 12, 2025. Final sign-off came a little over ten months later. "For years, we've said crypto and banks work better together. Final approval for Ripple National Trust Bank is what that looks like in practice," Garlinghouse said in the release.
RLUSD in numbers
RLUSD launched in December 2024 and has grown to a market cap of about $2.5 billion, Ripple says. It is used in Ripple's payments business and as collateral on Ripple Prime. Reserves are held in US dollar deposits, US government securities and other cash equivalents, with BNY as the main custodian, and Ripple publishes monthly third-party attestations. If you're unsure how such checks work, see our explainer on proof of reserves.
Why it matters
The approval lands as US regulators roll out the GENIUS Act stablecoin rules; only days ago the OCC urged community banks to issue payment stablecoins. Ripple says it will keep working with the OCC and New York regulators as the bank begins operating. For background on the company's other big asset, read what XRP is.
Frequently asked questions
Is Ripple now a bank?
Ripple now has a federally chartered national trust bank. It can hold reserves and provide custody under OCC supervision, but a trust charter does not allow it to take deposits or make loans like a commercial bank.
Does this change who issues RLUSD?
No. RLUSD is still issued by Standard Custody & Trust Company, regulated by New York's DFS. The new trust bank manages and acts as trustee for the reserves.
Does the charter affect XRP?
The approved activities relate to RLUSD reserves and digital-asset custody. Ripple did not announce any change to XRP as part of the approval.
This article is for information only and is not financial advice. Crypto assets are volatile; do your own research. Read our disclaimer
More from Regulation
View all →Read next
TRC20 vs ERC20: which USDT network should you use?
TRC20 vs ERC20 compared: fees, speed, addresses, security and exchange support for USDT on Tron and Ethereum, plus how to pick the right network and avoid lost funds.
Zcash co-founder proposes ending ZCG grants funding: 5 numbers
Sean Bowe's draft ZIP would stop the 8% of new ZEC flowing to Zcash Community Grants and send it to a mining-reward reserve. The key numbers behind the plan.
Ethereum patches Glamsterdam bug that misrouted staking deposits
A Glamsterdam spec flaw could have credited a staking service's validator deposit to a builder using the same key. How the bug worked and how the merged fix stops it.