Ripple gets final OCC approval for national trust bank
Ripple won final OCC approval for a national trust bank, putting RLUSD reserve management and fiduciary custody under federal supervision while issuance stays in New York.
The Top Crypto Editors 2 min read
Can Ripple now open its own U.S. trust bank? The Office of the Comptroller of the Currency has given final approval to Ripple National Trust Bank, Ripple said in its Oct. 26 announcement. The charter authorizes the bank to manage RLUSD’s segregated reserves, act as their collateral trustee for holders and provide fiduciary digital asset custody. The approval completes an organization process that began with conditional OCC approval in December 2025.
Will the bank issue RLUSD?
No: RLUSD will remain issued by Standard Custody & Trust Company, Ripple’s New York Department of Financial Services regulated limited purpose trust company. Ripple says the new bank adds federal OCC supervision to the stablecoin’s regulatory structure, while the New York entity retains issuance. That split means reserve management and custody can sit within the national trust bank without moving token issuance there.
The Block’s report on the approval notes that national trust bank charters do not permit deposit-taking or lending, distinguishing them from full-service commercial bank licenses. For you, the practical change is federal oversight of specified trust and fiduciary activities, rather than a new retail bank where customers can open checking accounts or borrow. Ripple also says the bank’s approved business plan includes custody services for institutions.
When will Ripple National Trust Bank begin operating?
Ripple has not announced an opening date. Its announcement says the bank will provide fiduciary custody “upon opening” and that the company will continue working with the OCC and NYDFS as operations begin. Final approval clears the chartering process, but the sources do not give a date when customers or RLUSD holders will see the new services in operation.
The regulatory change matters most to RLUSD’s reserve and custody arrangements: the stablecoin will still be issued in New York, with a federally supervised bank authorized to manage segregated reserves and serve as collateral trustee. Ripple says RLUSD launched in December 2024 and has reached a $2.5 billion market capitalization; that figure is the company’s. The next thing to watch is when Ripple National Trust Bank opens and starts carrying out its approved activities.
References
- Oct. 26 announcement — ripple.com
- Block’s report on the approval — theblock.co