Ripple wins final OCC approval for a national trust bank, putting the reserves behind its $2.5 billion RLUSD stablecoin under federal supervision

Ripple said on Monday that the Office of the Comptroller of the Currency has granted final approval for Ripple National Trust Bank, a federally supervised national trust bank. The OCC gave conditional approval in December 2025, and The Block reported that Ripple first applied in July 2025.

The charter is narrower than a commercial bank's: national trust banks cannot take deposits or make loans. The new bank's approved activities are managing the segregated reserves that back Ripple USD, acting as collateral trustee for those reserves on behalf of RLUSD holders, and providing fiduciary digital asset custody once it opens. Issuance of the stablecoin stays with Standard Custody & Trust Company, Ripple's limited purpose trust company regulated by the New York Department of Financial Services, so the charter adds federal oversight on top of state oversight rather than replacing it.

RLUSD launched in December 2024 and has a market capitalization of about $2.5 billion, according to Ripple, which names BNY as primary reserve custodian and publishes monthly third-party attestations. "For years, we've said crypto and banks work better together," chief executive Brad Garlinghouse said.

The approval follows the OCC's final GENIUS Act rule and its invitation to community banks on Monday to issue stablecoins. The Block noted Senator Elizabeth Warren has argued the crypto trust charters violate the National Bank Act. What to watch: when the bank opens and how it fits the GENIUS Act regime from January 2027.