Ripple Wins Final OCC Approval for Trust Bank Behind $2.6B RLUSD Stablecoin

In brief

• The OCC has granted Ripple final approval to open Ripple National Trust Bank, 10 months after conditionally approving the charter in December 2025.
• The bank will manage the reserves backing Ripple's RLUSD stablecoin, act as collateral trustee for holders, and offer fiduciary digital asset custody.
• The approval comes as community banks challenge the OCC's crypto charters in court, after Sen. Elizabeth Warren called them illegal.

Ripple has received final approval from the Office of the Comptroller of the Currency to establish Ripple National Trust Bank, a federally supervised national trust bank, the company said on Monday.

The approval completes a process that began when the OCC conditionally approved Ripple's application in December 2025, alongside those of Circle, Paxos, Fidelity Digital Assets and BitGo.

Once open, the bank will manage the segregated reserves backing the Ripple USD (RLUSD) stablecoin, act as collateral trustee of those reserves for the benefit of RLUSD holders, and provide fiduciary digital asset custody services to enterprises. RLUSD will still be issued by Standard Custody & Trust Company, Ripple's limited purpose trust company regulated by the New York Department of Financial Services, so the stablecoin will now sit under both state and federal supervision.