Ripple Secures Final OCC Approval for National Trust Bank

Ripple secured final approval from the Office of the Comptroller of the Currency for a national trust bank, overcoming objections from traditional banking groups. Ripple National Trust Bank will manage RLUSD reserves, serve as a collateral trustee and provide fiduciary digital asset custody. Ripple puts RLUSD’s market capitalization at $2.5 billion.

Why it matters

The approval gives Ripple a federally chartered foundation for its stablecoin, custody and institutional finance operations. CEO Brad Garlinghouse said the charter will support products across payments, custody and capital markets, while Chief Legal Officer Stuart Alderoty framed the decision as validation of building within the regulatory perimeter.

The bank will not operate as a conventional commercial lender. It cannot offer ordinary deposit accounts or loans, and RLUSD issuance will remain with Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary. BNY will remain the stablecoin’s primary reserve custodian.

The decision follows opposition from the American Bankers Association, the Independent Community Bankers of America and other banking and credit union groups. The OCC granted conditional approval in December 2025 before completing the chartering process.

Market impact

The charter could make Ripple’s institutional infrastructure easier for regulated counterparties to use. Standard Chartered has launched institutional custody for RLUSD on the XRP Ledger and plans to work with Ripple and LMAX Group on RLUSD as trading collateral, subject to documentation, testing and approvals. Ripple Prime has also expanded into real-world asset perpetual swaps, with RLUSD available as collateral where permitted.

The XRP impact is more limited than the institutional headline suggests. XRP is required for XRP Ledger transaction fees and account reserves, and it can serve as a bridge asset between currencies. However, institutions can transfer RLUSD directly on the ledger without converting it into XRP, while RLUSD activity on Ethereum does not require XRP. Ripple’s custody and stablecoin growth therefore does not guarantee proportional XRP buying.