Ripple wins final U.S. approval for national trust bank
Ripple has won final OCC approval for a national trust bank, adding federal oversight to RLUSD reserves and custody while issuance stays with its New York unit.
Crypto Daybook Newsroom2 min read
Ripple received final approval on Oct. 26 from the Office of the Comptroller of the Currency (OCC) to charter Ripple National Trust Bank, giving the company a federally supervised role in managing RLUSD reserves and holding digital assets for clients. The Ripple announcement says the approval completes a process that began with conditional approval in December 2025.
A national trust bank is a federally chartered institution focused on managing assets for clients. Ripple says the bank’s approved activities include managing the segregated reserves backing RLUSD, serving as trustee for those reserves for token holders, and providing digital asset custody.
What will Ripple’s new bank do?
Ripple National Trust Bank will oversee some of the infrastructure behind RLUSD, Ripple’s dollar-backed stablecoin. Its reserve role means managing the assets held to support the tokens in circulation. It will also act as collateral trustee, a role that means holding or managing assets for the benefit of RLUSD holders.
The bank’s approval also covers fiduciary digital asset custody. In simple terms, custody means holding assets on behalf of clients. Ripple says the service will be available to institutions as they use digital assets in payments, trading and treasury work.
Will the bank issue RLUSD?
No. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s limited-purpose trust company regulated by the New York Department of Financial Services. Ripple says the OCC charter adds federal oversight to the arrangements supporting the stablecoin, while the New York company remains its issuer.
RLUSD launched in December 2024. Ripple said it had reached a $2.5 billion market value by the time of the announcement. The company says the token is backed by U.S. dollar deposits, government securities and other cash equivalents. BNY is its primary reserve custodian, and Ripple publishes monthly independent attestations on the supply and reserves.
Does final approval mean the bank is open?
The approval completes the chartering process, but Ripple says the bank will provide its authorized services upon opening. The company said it will continue working with the OCC and New York regulators as the bank begins operations.
The Block’s report says national trust bank charters do not allow deposit-taking or lending, distinguishing them from full-service commercial bank licenses. Ripple’s approval is for managing reserves and custody, rather than a license to offer ordinary bank accounts or loans.
References
- Ripple announcement — ripple.com
- The Block’s report — theblock.co