Ripple gets final OCC approval for national trust bank
Ripple won final OCC approval for a trust bank that can manage RLUSD reserves and provide digital asset custody, while the stablecoin remains issued in New York.
The Crypto Front Page Desk3 min read
Ripple received final approval on Oct. 26 from the Office of the Comptroller of the Currency (OCC) to charter Ripple National Trust Bank, adding federal supervision for reserve management and digital asset custody tied to its RLUSD stablecoin. The company’s announcement says the bank’s approved activities include managing RLUSD’s segregated reserves, acting as collateral trustee for holders and providing fiduciary custody services.
The approval completes a process that began with conditional OCC approval in December 2025. Ripple National Trust Bank is a national trust bank, a federally chartered institution focused on trust and fiduciary services. It is not a full-service commercial bank: The Block reports that this type of charter does not permit deposit-taking or lending.
What will the trust bank do with RLUSD?
Ripple’s new bank will handle reserve and custody roles, while a separate Ripple company will continue issuing the stablecoin. Standard Custody & Trust Company, a limited purpose trust company regulated by New York’s Department of Financial Services, remains RLUSD’s issuer, according to Ripple.
The reserve process has several parts. Standard Custody issues RLUSD; Ripple National Trust Bank is authorized to manage the segregated assets backing it; and, as collateral trustee, it can act for the benefit of RLUSD holders in relation to those reserves. The setup is like assigning one institution to issue a claim and another to hold and oversee the assets set aside behind it. The roles are connected, but they remain with separate entities.
Ripple says the OCC charter adds federal supervision to the existing New York oversight supporting RLUSD. It also authorizes the bank to provide fiduciary digital asset custody services, including for institutional customers, according to The Block’s report.
Does the approval make Ripple a regular bank?
No. The trust charter covers the specific trust, reserve-management and custody activities described in the approval. The Block notes that national trust bank charters do not permit deposit-taking or lending, distinguishing Ripple National Trust Bank from a commercial bank offering checking accounts or loans.
The distinction also means the stablecoin’s issuance does not move to the federally chartered bank. Standard Custody & Trust Company remains the issuer, while Ripple National Trust Bank takes on separate reserve and fiduciary functions under OCC supervision. The two entities therefore have different jobs in the RLUSD structure.
What changes now?
The OCC’s final approval moves Ripple National Trust Bank beyond its conditional charter stage and authorizes the activities Ripple outlined. Ripple says it will continue working with the OCC, New York regulators and other authorities as the bank begins operations.
The immediate change is the addition of a federally supervised Ripple entity for RLUSD reserve management and digital asset custody. The next point to watch is the start of the bank’s operations and how its responsibilities work alongside Standard Custody & Trust Company, which continues issuing RLUSD.
References
- company’s announcement — ripple.com
- The Block’s report — theblock.co