Ripple has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank, a federally supervised financial institution designed to manage reserves backing its $2.5 billion Ripple USD (RLUSD) stablecoin and provide cryptocurrency custody services to institutional clients. The approval follows Ripple’s initial application in July 2025 and conditional authorization in December, marking a significant milestone in the company’s expansion into regulated banking infrastructure. The new charter brings federal oversight to Ripple’s stablecoin reserve management while maintaining existing supervision from New York financial regulators.
Ripple Receives Final Approval After 10-Month Review
The OCC granted final approval for Ripple National Trust Bank (RNTB) on October 26, completing the charter process that began with conditional approval on December 12, 2025.
The decision authorizes Ripple to establish a specialized national trust bank focused on digital asset infrastructure rather than conventional consumer banking.
Ripple CEO Brad Garlinghouse welcomed the announcement, describing it as an important step toward bringing blockchain technology into the regulated financial system.
The trust bank’s approved responsibilities include:
Managing segregated reserves backing the RLUSD stablecoin.
Acting as collateral trustee for the benefit of RLUSD holders.
Providing fiduciary cryptocurrency custody to institutional clients once operational.
Supporting enterprise digital asset infrastructure involving payments, trading and treasury management.
Ripple has not announced an exact date when the new bank will begin providing all its approved services.
RLUSD Gains Federal Oversight While New York-Regulated Issuer Remains in Place
One of the most important aspects of the approval involves the regulatory structure supporting Ripple USD (RLUSD).
The dollar-backed stablecoin will continue to be issued by Standard Custody & Trust Company, a Ripple subsidiary regulated by the New York Department of Financial Services (NYDFS).
Ripple National Trust Bank will separately manage reserve assets and serve as collateral trustee under federal OCC supervision.
This arrangement adds federal oversight to the stablecoin’s infrastructure without transferring issuance to the new national trust bank.
RLUSD is designed to maintain a 1:1 value with the U.S. dollar, supported by reserves consisting of dollar deposits, U.S. government securities and other cash equivalents.
BNY serves as the stablecoin’s primary reserve custodian, while Ripple publishes monthly independent attestations covering circulating supply and reserve assets.
The arrangement is intended to provide additional regulatory assurance for institutions using RLUSD in financial transactions.
Ripple’s RLUSD Stablecoin Reaches $2.5 Billion Market Capitalization
Launched in December 2024, RLUSD has grown into a major participant in the dollar-backed stablecoin market.
According to Ripple, the stablecoin reached approximately $2.5 billion in market capitalization by October 26, 2026.
RLUSD is currently used across Ripple’s payment infrastructure and as collateral within Ripple Prime, the company’s institutional brokerage platform.
The stablecoin operates on both the XRP Ledger and Ethereum, allowing users and institutions to transfer dollar-denominated digital assets across supported blockchain networks.
Its growth reflects increasing interest in regulated stablecoins for international payments, trading and institutional treasury operations.
However, RLUSD’s expanding circulation does not automatically translate into higher demand for XRP, which remains a separate cryptocurrency with different functions.
Ripple National Trust Bank Will Not Operate Like a Traditional Commercial Bank
Although Ripple has received a federal banking charter, the approval does not authorize it to provide every service associated with conventional commercial banks.
A national trust bank operates under a narrower regulatory framework focused on fiduciary and custody activities.
Ripple National Trust Bank will not be authorized to accept ordinary consumer deposits or make traditional commercial loans under its approved charter.
It also should not be confused with a federally insured retail bank offering checking accounts or savings products.
Instead, its primary purpose is to support institutional digital asset custody and the management of stablecoin reserve assets.
This distinction is important as cryptocurrency companies increasingly pursue specialized banking charters to integrate with traditional financial markets.
Ripple Joins Circle and BitGo in Expanding Federally Supervised Crypto Banking
Ripple’s approval follows a series of similar regulatory developments involving cryptocurrency companies.
Circle, issuer of the USDC stablecoin, received final OCC approval for its national trust bank in July 2026.
BitGo also obtained approval for federally supervised trust banking operations.
Other cryptocurrency businesses, including Coinbase, Crypto.com and World Liberty Financial, have received conditional approvals as they pursue specialized banking charters.
The developments demonstrate growing demand among digital asset companies for regulated custody, stablecoin infrastructure and institutional financial services.
However, conditional approvals should not be confused with final authorization to begin banking operations.
Each company must satisfy the OCC’s applicable requirements before receiving final approval.
Crypto Banking Charters Face Opposition From Traditional Banks and Lawmakers
The expansion of national trust bank charters has also generated opposition.
Senator Elizabeth Warren has questioned whether the OCC’s approvals comply with federal banking law and whether cryptocurrency companies are receiving banking privileges without meeting the requirements imposed on conventional financial institutions.
The Independent Community Bankers of America has filed a lawsuit challenging the OCC’s approach to granting national trust charters to cryptocurrency businesses.
Critics argue that the approvals could create regulatory gaps involving capital requirements, supervision and consumer protection.
However, cryptocurrency industry advocates, including The Digital Chamber, maintain that national trust banks are legally distinct from full-service commercial banks and operate within a specifically limited regulatory framework.
They argue that bringing cryptocurrency companies under federal supervision can strengthen oversight rather than weaken it.
The legal and regulatory debate remains unresolved.
GENIUS Act Creates New Opportunities for Regulated Stablecoin Issuers
Ripple’s approval comes as the United States continues implementing the GENIUS Act, the federal stablecoin legislation signed into law in July 2025.
The law establishes a regulatory framework for payment stablecoin issuers, including requirements involving reserve assets, oversight and consumer protections.
Ripple’s trust bank charter could help the company support institutional stablecoin services as federal regulations develop.
However, obtaining a national trust charter does not automatically establish compliance with every future GENIUS Act requirement.
Ripple says it will continue working with the OCC, NYDFS and other regulators as the new bank begins operations and the federal stablecoin framework is implemented.
Ripple Strengthens Its Position in Institutional Blockchain Finance
The approval gives Ripple another component of its expanding institutional digital asset business.
The company already provides blockchain-based payment infrastructure, stablecoin services and institutional trading capabilities.
With a federally supervised national trust bank, Ripple can now develop custody and reserve-management services within a dedicated regulatory structure.
The decision may also strengthen its relationships with banks, payment companies and other institutions that require regulated service providers.
However, the bank’s commercial impact will depend on when operations begin, how many institutional clients adopt its services and how the broader stablecoin market develops.
Ripple’s Federal Bank Charter Marks Another Step Toward Mainstream Crypto Adoption
Ripple’s final OCC approval represents a notable development in the integration of cryptocurrency businesses with traditional financial regulation.
Rather than operating entirely outside established banking structures, Ripple is building federally supervised infrastructure to support stablecoin reserves and institutional custody.
The approval also illustrates how the stablecoin industry is evolving as major cryptocurrency companies seek stronger regulatory foundations for enterprise financial services.
