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 in a post on X.
The decision allows Ripple, a financial technology company focused on blockchain-based cross-border payments and tokenization, to operate a specialized bank under U.S. federal oversight.
Garlinghouse announced the approval late Monday, marking a significant step in Ripple’s efforts to bring digital asset services further into the regulated financial system. The development gives one of the cryptocurrency industry’s major players a banking-style charter, strengthening its connections with traditional finance.
Ripple initially applied for the charter in July 2025. The OCC granted conditional approval in December of that year before issuing its final authorization this week.
The move aligns with Garlinghouse’s long-standing argument that cryptocurrency companies and traditional banks can work together to develop financial products suitable for large institutions.
“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 had spent more than a decade developing regulated financial infrastructure for institutional clients. According to Garlinghouse, the national trust charter provides a stronger foundation for RLUSD and the company’s expanding services across payments, digital asset custody, and capital markets.
Ripple National Trust Bank to Oversee RLUSD Reserves
One of RNTB’s primary responsibilities will be managing the reserves backing Ripple’s RLUSD stablecoin. These reserves consist of cash and other assets intended to maintain the token’s value against the U.S. dollar.
The bank will also serve as a trustee for the reserves and provide regulated digital asset custody services. This will allow institutional clients to hold digital assets securely while using cryptocurrencies for payments, trading, and treasury management.
RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s entity regulated in New York. The addition of the national trust bank introduces another layer of oversight, placing different parts of the stablecoin’s structure under both state and federal supervision.
Launched in December 2024, RLUSD has grown to a reported market capitalization of approximately $2.5 billion, placing it among the world’s 50 largest stablecoins. The token supports Ripple’s payments operations and is also used as collateral on Ripple Prime.
RLUSD is backed by U.S. dollar deposits, U.S. government securities, and other cash-equivalent assets, with BNY holding most of the reserves. Meanwhile, XRP, the world’s fifth-largest cryptocurrency by market capitalization according to the supplied report, remains part of Ripple’s cross-border payment infrastructure.
Ripple Prepares for the Next Phase of U.S. Stablecoin Regulation
Ripple said it will continue coordinating with the OCC, New York regulators, and other relevant authorities as RNTB begins operations.
The company’s regulatory engagement comes as the United States moves toward implementing stablecoin requirements under the GENIUS Act. These rules are expected to shape how stablecoin issuers and related financial institutions manage reserves, comply with oversight requirements, and provide services to customers.
The final approval gives Ripple a stronger regulatory foothold as it expands its institutional offerings. It also represents another step toward integrating blockchain-based financial services with the traditional banking system, particularly in stablecoin management, digital asset custody, and cross-border payments.
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