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Ripple wins final US approval for national trust bank
The OCC approval authorizes Ripple to manage RLUSD reserves and offer digital asset custody services.
Key takeaways
- Federal oversight. Ripple National Trust Bank will operate under federal supervision, completing the chartering process that began with conditional approval in December 2025.
- Stablecoin infrastructure. The trust bank will manage reserves backing RLUSD and serve as collateral trustee, while RLUSD continues to be issued by Ripple's separate limited purpose trust company regulated by New York authorities.
- Institutional custody. The approval positions Ripple to compete with other crypto firms seeking federally regulated trust banking services for enterprise clients.
What happened
Ripple announced Monday that it has received final approval from the Office of the Comptroller of the Currency to operate Ripple National Trust Bank. The approval marks the completion of the chartering process that began when the OCC granted conditional approval in December 2025. The federally supervised trust bank is now authorized to manage reserves backing Ripple USD and act as collateral trustee for RLUSD holders, according to the company.
The new trust bank will also provide digital asset custody services to institutional clients. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple's limited purpose trust company that operates under regulation by the New York Department of Financial Services. This structure separates the stablecoin issuance function from the reserve management and custody services provided by the federally chartered trust bank.
Ripple CEO Brad Garlinghouse announced the approval on social media, framing the development as evidence that crypto and traditional banking can work together. The announcement preceded Ripple Swell 2026, the company's conference in New York focused on expanding institutional financial services.
Why it matters
The approval represents a significant regulatory milestone for Ripple's institutional ambitions. Unlike typical commercial banks, national trust banks focus on custody and fiduciary services rather than deposits and lending, making them well-suited for managing digital assets. The OCC charter gives Ripple a federally supervised platform to offer services that institutions increasingly demand as they expand digital asset holdings. The approval also positions Ripple alongside other major crypto firms pursuing similar regulatory pathways. Circle received final OCC approval in July, while Coinbase, Crypto.com, and Stripe-owned Bridge remain in conditional approval stages as of the time of reporting.
Background
National trust banks are federally chartered institutions created under the National Bank Act to hold and manage assets on behalf of clients. According to the OCC, these institutions typically do not accept deposits or make loans and do not carry Federal Deposit Insurance Corporation insurance. The regulatory structure appeals to crypto firms seeking to operate within the traditional banking system while maintaining focus on custody and digital asset services.
Ripple has been building its institutional business through multiple channels. The company announced a 24/7 corporate treasury platform on Monday that integrates cash management, payment processing, and liquidity solutions powered by artificial intelligence. The platform also includes a feature allowing eligible enterprises to receive returns on RLUSD holdings outside standard banking hours. Additionally, Ripple has been expanding partnerships to increase adoption of the XRP Ledger, including with Aviva Investors, which launched a tokenized share class for its Sterling Liquidity Fund on the network.
What to watch
Ripple has not yet announced a launch date for when the trust bank will begin serving customers. The company indicated that the trust bank will complement its existing institutional business, suggesting a phased rollout. The timing of customer onboarding and the services offered at launch remain unclear.
Questions readers ask
How does Ripple National Trust Bank differ from a regular bank?
National trust banks focus primarily on holding and managing assets on behalf of clients rather than accepting deposits or making loans. They do not carry FDIC insurance and operate under federal oversight focused on custody and fiduciary services.
Will this affect how RLUSD is issued or used?
RLUSD will continue to be issued by Standard Custody & Trust Company, regulated by New York authorities. The trust bank's role is to manage the reserves backing the stablecoin and serve as collateral trustee, not to issue new tokens.
Who are Ripple's competitors in this space?
Circle has already received final OCC approval for a trust bank. Coinbase, Crypto.com, and Stripe-owned Bridge are still in the conditional approval stage, according to reporting at the time of the announcement.
