Ripple gets final OCC approval for national trust bank
Ripple has final OCC approval for a national trust bank to manage RLUSD reserves and offer custody, bringing federal oversight while its New York unit remains the issuer.
Crypto Daybook Newsroom2 min read
Ripple received final approval on Oct. 26 to charter a national trust bank, giving federal oversight to parts of its stablecoin and custody business. The company said in its approval announcement that the Office of the Comptroller of the Currency (OCC) authorized Ripple National Trust Bank to manage reserves backing RLUSD, act as trustee for those reserves and provide digital asset custody.
The OCC’s application record lists Oct. 26, 2026, as the charter’s effective date. The filing shows Ripple’s application was approved on Dec. 12, 2025, and later consummated, or made effective, on Oct. 26.
What can Ripple National Trust Bank do?
The bank’s approved work centers on RLUSD reserves and fiduciary services. Reserves are the assets held to back a stablecoin; fiduciary services mean managing assets for the benefit of clients or holders. Ripple says the bank can manage RLUSD’s segregated reserves and act as collateral trustee for RLUSD holders.
It is also authorized to provide fiduciary digital asset custody, a service that holds crypto assets on behalf of clients. Ripple says this custody service will be available upon the bank’s opening.
A national trust bank charter is a limited banking license. The Block reported that this type of charter does not allow deposit-taking or lending, distinguishing it from a full-service commercial bank.
Will Ripple’s new bank issue RLUSD?
No. Ripple said RLUSD will continue to be issued by Standard Custody & Trust Company, its limited purpose trust company regulated by the New York Department of Financial Services. The new bank adds OCC supervision to the regulatory structure supporting the stablecoin, while issuance remains with the New York-regulated firm.
That split matters for RLUSD holders because the newly approved bank’s role is to oversee reserves and provide trustee and custody services, not to become the stablecoin’s issuer. Ripple said the OCC approval followed its conditional approval in December 2025.
What happens next?
Ripple said it will continue working with the OCC, New York regulators and other agencies as the bank begins operations. The company’s announcement says the bank will provide custody services upon opening; it did not give an opening date.
For now, the approval marks a change in federal oversight around Ripple’s stablecoin infrastructure. RLUSD remains issued by Standard Custody & Trust Company, while the new national trust bank is authorized to manage its reserves and support institutional custody.
References
- approval announcement — ripple.com