CoinDesk
The Office of the Comptroller of the Currency has granted final approval for Ripple National Trust Bank, giving Ripple the ability to operate a specialized national bank under federal supervision. The bank will manage reserves backing RLUSD and provide regulated custody services for institutional clients, while RLUSD issuance remains with Ripple's New York-regulated unit. RLUSD has grown to about $2.5 billion in market value since its December 2024 launch.
Why it matters
The approval moves Ripple further into the regulated financial system and gives its stablecoin infrastructure both state and federal oversight. Ripple first applied for the charter in July 2025, received conditional OCC approval that December, and has now secured final approval.
RNTB will act as trustee for RLUSD reserves and hold assets for institutions using crypto in payments, trading and treasury management. The reserves are backed by U.S. dollar deposits, U.S. government securities and other cash-like assets, with BNY holding most of them. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple's New York-regulated unit.
Market impact
The charter strengthens Ripple's institutional custody and payments strategy while adding a federal layer of oversight to the reserve-management structure. Ripple CEO Brad Garlinghouse said the national trust charter provides a stronger foundation for RLUSD and products spanning payments, custody and capital markets.
RLUSD is used in Ripple's payments business and as collateral on Ripple Prime. Ripple also uses XRP to facilitate cross-border transactions. The company said it will continue working with the OCC and New York regulators as the United States implements stablecoin rules under the GENIUS Act.
Frequently asked questions
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What did the OCC approve for Ripple?
The OCC granted final approval for Ripple National Trust Bank, allowing Ripple to operate a specialized national bank under federal supervision.
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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 unit. The new bank will manage and act as trustee for the reserves.
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What services will Ripple National Trust Bank provide?
The bank will manage RLUSD reserves and provide regulated digital-asset custody services for institutional clients using crypto in payments, trading and treasury management.
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How large is RLUSD's market value?
RLUSD has grown to about $2.5 billion in market value since its launch in December 2024.
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What assets back RLUSD reserves?
RLUSD reserves are backed by U.S. dollar deposits, U.S. government securities and other cash-like assets. BNY holds most of the reserves.
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