Ripple gets final OCC approval for national trust bank

Ripple said on Oct. 26 that it had received final approval from the Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank, adding federal supervision to the structure supporting its RLUSD stablecoin. The company’s announcement of the final approval follows conditional approval in December 2025.

What will Ripple National Trust Bank do?

The bank is approved to manage RLUSD’s segregated reserves, act as trustee for those reserves for the benefit of holders, and provide fiduciary digital asset custody, Ripple said. A trustee holds or manages assets for others under agreed duties. Ripple says the reserves are made up of US dollar deposits, US government securities and other cash equivalents.

RLUSD will still be 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 oversight to the regulatory structure around the stablecoin; it does not take over issuance. The Block’s report on the approval also notes that reserve management and custody will sit under federal supervision while issuance remains with the New York-regulated company.

Does the charter make it a regular bank?

No. The Block reports that national trust bank charters do not allow deposit-taking or lending, unlike full-service commercial bank licences. Ripple’s announcement describes the bank’s approved work as trust, reserve-management and custody services. It does not describe a bank offering checking or savings accounts.

The distinction matters for RLUSD holders: the bank is set to manage and hold the backing assets in trust, while Standard Custody & Trust Company remains the issuer. Ripple says the national charter adds federal OCC supervision alongside the existing New York state oversight.

When will the bank begin operating?

Ripple’s announcement does not give an opening date. It says the bank will be able to provide fiduciary digital asset custody once it opens, including custody services beyond its role in supporting RLUSD. The company said it will continue working with the OCC, New York regulators and others as the bank begins operations.

The approval came less than a year after the OCC’s conditional decision, according to The Block. Ripple also said RLUSD launched in December 2024 and had reached a $2.5 billion market capitalisation. Those figures come from the company; the central change is the approval of a federally supervised trust bank to manage the stablecoin’s reserves while the New York-regulated company continues issuing it.

Sources and documents

• announcement of the final approval — ripple.com
• The Block’s report on the approval — theblock.co