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OCC Grants Final Approval for Ripple National Trust Bank

October 27, 2026

On October 26, 2026, Ripple said the Office of the Comptroller of the Currency granted final approval to charter Ripple National Trust Bank, a federally supervised national trust bank. The decision completes an organization process that followed conditional OCC approval in December 2025, according to the company. The bank’s approved role covers reserves supporting the RLUSD stablecoin and fiduciary digital asset custody for enterprises.

What happened

According to Ripple’s announcement, Ripple National Trust Bank is authorized to manage the segregated reserves that support Ripple USD, known as RLUSD, to act as collateral trustee of those reserves for the benefit of RLUSD holders, and to provide fiduciary digital asset custody services. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s limited-purpose trust company supervised by the New York Department of Financial Services. The national charter adds OCC oversight; it does not replace the state license.

Chief executive Brad Garlinghouse described the outcome in terms the company has used for years, saying crypto and banks “work better together.” Cointelegraph reported the same line from his post on X. The announcement was also distributed through Business Wire. Cointelegraph noted that a national trust bank is a limited charter. Unlike a typical commercial bank, most national trust banks do not accept deposits or make loans and do not carry Federal Deposit Insurance Corporation insurance, according to the OCC.

Why it matters

The practical effect for RLUSD is an extra federal layer over the reserves, not a change in who issues the token. Ripple said the stablecoin, launched in December 2024, has reached a market capitalization of $2.5 billion. The company said RLUSD is used in its payments infrastructure and as collateral in Ripple Prime, and that it is fully backed by U.S. dollar deposits, U.S. government securities, and other cash equivalents. BNY is the primary reserve custodian, and Ripple publishes monthly independent attestations of circulating supply and reserve assets. Those figures and descriptions are company statements.

The custody authority is separate. Upon opening, the bank may offer fiduciary digital asset custody under OCC supervision as enterprises add digital assets to payments, trading, and treasury operations, according to Ripple.

The approval also sits in a broader chartering wave. Cointelegraph reported that Circle received final OCC approval for its own national trust bank in July 2026. Coinbase received conditional approval in April, and Crypto.com and Stripe-owned Bridge received conditional approvals in February. Those firms had not been reported as having final approval in Cointelegraph’s account. Banking trade groups have argued that some crypto activities should require full-service bank charters rather than trust charters. That debate predates this decision.

What's next

Under the OCC’s standard process, final approval is the step that allows a bank in organization to commence business after pre-opening requirements are met. Ripple said it will keep working with the OCC and the New York Department of Financial Services as Ripple National Trust Bank begins operations, and as the United States implements the stablecoin framework established by the GENIUS Act. The company has not stated a public opening date in the materials reviewed for this article.

Garlinghouse tied the announcement to the run-up to Ripple Swell. Other charter applicants remain at earlier stages, so this decision does not change their status. The charter is not a commercial bank license, does not provide FDIC insurance, and does not remove the operational risks that come with digital-asset custody and stablecoin reserves.

Sources

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