TheBlock
Ripple has received final approval from the U.S. Office of the Comptroller of the Currency to launch Ripple National Trust Bank. The federally supervised trust bank will support RLUSD, manage its segregated reserves and provide fiduciary digital asset custody for enterprises. RLUSD launched in December 2024 and has reached a $2.5 billion market capitalization, according to Ripple.
Why it matters
The approval moves Ripple’s reserve management and custody operations under federal oversight while preserving a split structure for issuance. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York Department of Financial Services-regulated limited purpose trust company. The national trust charter does not permit deposit-taking or lending, separating the entity from a full-service commercial bank.
Ripple CEO Brad Garlinghouse said the approval reflects a model in which crypto and banks work together through federal supervision and accountability. Ripple initially applied for the banking license in July 2025 and received conditional approval on Dec. 12, 2025.
Market impact
RLUSD is used across Ripple’s payments infrastructure and as collateral within Ripple Prime. The OCC charter gives its reserve management and custody framework a federal layer alongside existing state-level oversight, a structure that could matter as stablecoin issuers seek institutional distribution and clearer compliance standards.
The approval also extends a broader wave of federal trust bank decisions. Circle received final approval for USDC reserve oversight in July, while BitGo received approval in December 2025. Coinbase, Crypto.com and World Liberty Financial have received conditional approvals. The approach has drawn criticism from Sen. Elizabeth Warren, while The Digital Chamber argues that national trust charters remain limited to fiduciary and trust activities.
Frequently asked questions
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What did the OCC approve for Ripple?
The OCC gave final approval for Ripple National Trust Bank, a federally supervised trust bank that will support RLUSD and provide fiduciary digital asset custody.
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Will Ripple National Trust Bank issue RLUSD?
No. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated limited purpose trust company.
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What will Ripple’s national trust bank manage?
The bank is authorized to manage RLUSD’s segregated reserves, act as collateral trustee for RLUSD holders and provide fiduciary digital asset custody services.
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Can the new Ripple bank take deposits or make loans?
No. National trust bank charters do not permit deposit-taking or lending, distinguishing them from full-service commercial bank licenses.
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How large is RLUSD’s market capitalization?
RLUSD has reached a $2.5 billion market capitalization, according to Ripple. The stablecoin is used across Ripple’s payments infrastructure and as collateral within Ripple Prime.
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