Ripple Wins Final OCC Approval to Establish U.S. National Trust Bank

The Office of the Comptroller of the Currency (OCC) has granted final approval to Ripple National Trust Bank (RNTB), according to Ripple CEO Brad Garlinghouse, who announced the decision on X late Monday.

The authorization allows Ripple, a fintech company focused on blockchain technology, cryptocurrency, cross-border payments, and asset tokenization, to operate a specialized bank under U.S. federal oversight.

The approval marks another step in bringing the digital asset industry closer to the traditional financial system. Ripple submitted its banking charter application in July 2025 and received conditional approval from the OCC in December before obtaining final authorization this week.

The decision also supports Garlinghouse’s longstanding argument that crypto companies and traditional banks can work together to develop services for institutional customers.

“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,” Garlinghouse said in a press release.

He added that Ripple has spent more than a decade developing regulated financial infrastructure for institutional use, and that the national trust charter provides a stronger foundation for RLUSD and the company’s products spanning payments, custody, and capital markets.

Ripple Bank to Oversee RLUSD Reserves

Ripple National Trust Bank will manage the reserves backing RLUSD, Ripple’s U.S. dollar-pegged stablecoin. These reserves consist of financial assets intended to maintain the token’s value relative to the dollar.

The bank will also serve as a trustee for the reserves and provide regulated digital asset custody services. These offerings will allow institutional clients to hold digital assets securely while using them for payments, trading, and treasury management.

However, RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary. The new banking structure introduces an additional layer of federal supervision alongside the existing state-level regulatory framework.

Launched in December 2024, RLUSD has grown to a market capitalization of approximately $2.5 billion, placing it among the world’s 50 largest stablecoins. The token is used within Ripple’s payments business and as collateral on Ripple Prime.

RLUSD is backed by U.S. dollar deposits, government securities, and other cash-equivalent assets, with BNY holding most of the reserves. Ripple also uses XRP, the world’s fifth-largest digital asset by market capitalization according to the supplied report, to facilitate cross-border transactions.

Ripple Prepares for Evolving U.S. Stablecoin Regulations

Ripple said it will continue coordinating with the OCC, New York regulators, and other authorities as the national trust bank begins operations.

The approval comes as the United States moves forward with implementing stablecoin regulations under the GENIUS Act. The developing framework is expected to shape how stablecoin issuers manage reserves, meet compliance requirements, and operate within the financial system.

With final authorization secured, Ripple has strengthened its regulatory position as it expands its stablecoin infrastructure and institutional financial services.

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