TLDR
- The OCC gave final approval to Ripple National Trust Bank on Monday, after conditional approval in December 2025.
- The bank will manage reserves backing the RLUSD stablecoin and offer digital asset custody.
- RLUSD has a market value of about $2.5 billion and is still issued by Standard Custody & Trust Company.
- Ripple follows Circle, which got final OCC approval in July.
- Coinbase, Crypto.com and Bridge remain at the conditional approval stage.
Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) to run a national trust bank. CEO Brad Garlinghouse announced the news on X late Monday.
Big news heading into @RippleSwell: the @USOCC has granted final approval for Ripple National Trust Bank.
This gives Ripple a federally supervised platform to support $RLUSD and provide digital asset custody to enterprises.
We’ve always said crypto and banks work better…
— Brad Garlinghouse (@bgarlinghouse) October 26, 2026
The bank is called Ripple National Trust Bank, or RNTB. It will operate under U.S. federal supervision.
Ripple first applied for the banking license in July 2025. The OCC gave conditional approval in December 2025. This week’s decision completes the chartering process.
Garlinghouse said crypto and banks work better together. He called the approval proof of that idea in practice.
“We’ve spent over a decade building regulated financial infrastructure that institutions can actually use at scale,” he said in a press release. He added that the charter gives Ripple a stronger base for RLUSD and its institutional products.
What the Bank Will Do
RNTB is authorized to manage the reserves that back the RLUSD stablecoin. It will also act as collateral trustee for the benefit of RLUSD holders.
The bank can provide digital asset custody as well. That means it can hold crypto safely for large companies using it in payments, trading and treasury work.
RLUSD will still be issued by Standard Custody & Trust Company. That company is Ripple’s limited purpose trust company, regulated by the New York Department of Financial Services.
This means RLUSD now has both state and federal regulators overseeing parts of its setup.
RLUSD and Ripple’s Business
RLUSD launched in December 2024. It now has a market value of about $2.5 billion, which places it among the top 50 stablecoins in the world.
The token is used in Ripple’s payments business. It also serves as collateral on Ripple Prime.
RLUSD is backed by U.S. dollar deposits, U.S. government securities and other cash-like assets. BNY holds most of those reserves.
Ripple also uses XRP, the fifth-largest digital asset, to help move money across borders.
Other Crypto Firms Seeking Charters
Ripple follows Circle, which secured final OCC approval in July. Other firms are still waiting.
Coinbase received preliminary approval in April. Crypto.com and Stripe-owned Bridge received conditional approvals in February.
The OCC says a national trust bank is a federally chartered institution focused on holding and managing assets for clients. Most do not accept deposits or make loans. They also do not carry Federal Deposit Insurance Corporation insurance.
Ripple said it will keep working with the OCC, New York regulators and others as the bank starts operating. It named the new U.S. stablecoin rules under the GENIUS Act as one area of focus.
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