Ripple Wins Final OCC Approval for Trust Bank Behind $2.6B RLUSD Stablecoin
Ripple has received final approval from the Office of the Comptroller of the Currency to establish Ripple National Trust Bank, completing a process that began with conditional approval in December 2025.
The bank will manage the segregated reserves backing the Ripple USD (RLUSD) stablecoin, act as collateral trustee for holders, and provide fiduciary digital asset custody services to enterprises. RLUSD will remain issued by Standard Custody & Trust Company, Ripple's limited purpose trust company regulated by the New York Department of Financial Services, placing the stablecoin under both state and federal supervision.
Crypto's bank charter fight
The national trust charters the OCC has granted to crypto firms remain contested. Sen. Elizabeth Warren has argued in a letter to Comptroller Jonathan Gould that the approvals violated the National Bank Act, claiming these companies are effectively crypto banks evading fundamental safeguards.
For years, we've said crypto and banks work better together. Final approval for Ripple National Trust Bank is what that looks like in practice.
The Independent Community Bankers of America recently sued the OCC in federal court, arguing the charters have become a side door into the banking system for crypto firms that avoid traditional banking requirements like capital requirements and FDIC insurance.
Ripple said it will continue working with regulators as the bank begins operations and as the U.S. implements the GENIUS Act's stablecoin framework. The company launched RLUSD in December 2024, and it now has a market capitalization of about $2.6 billion, with BNY serving as the stablecoin's primary reserve custodian.
XRP, Ripple's associated cryptocurrency, rose 0.5% over the past 24 hours to $1.29, becoming one of only two top-10 coins by market cap to gain on the day alongside Zcash.
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