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Ripple gets final OCC approval for national trust bank

Ripple has final OCC approval for a national trust bank to manage RLUSD reserves and custody digital assets, while its New York unit remains the stablecoin’s issuer.

Merkle Street Newsroom#3623653 min read

Ripple gets final OCC approval for national trust bank

Ripple has received final approval from the U.S. Office of the Comptroller of the Currency to establish Ripple National Trust Bank, adding federal supervision to services tied to its RLUSD stablecoin and institutional custody business. Ripple said the OCC granted the approval on Oct. 26, completing the process that began with conditional approval in December 2025.

What will the trust bank do with RLUSD?

Ripple National Trust Bank will manage the segregated reserves supporting RLUSD, act as collateral trustee for those reserves on behalf of holders, and provide fiduciary digital asset custody, according to Ripple’s announcement of the final approval. A trustee holds and manages assets for others under defined duties; here, the bank’s role is to manage the reserve assets and serve RLUSD holders’ interests in its trustee capacity.

The roles are split between two Ripple entities. Standard Custody & Trust Company, a limited purpose trust company regulated by the New York Department of Financial Services, will continue to issue RLUSD. The national trust bank will handle reserve management and trustee services, and will be authorized to provide fiduciary custody to institutional customers when it opens. The charter adds OCC oversight to the state supervision already applying to RLUSD’s issuer.

Is Ripple National Trust Bank already operating?

The OCC’s filing record lists Oct. 26, 2026, as the charter’s “Consummated/Effective” date, following conditional approval on Dec. 12, 2025. The OCC application record identifies the filing as a new national trust bank charter for Ripple National Trust Bank. Ripple’s announcement says the bank will provide its approved services as it begins operations; it does not say that customer services have already started.

The distinction matters because the charter is for trust and related fiduciary activities. In its December conditional decision, the OCC described plans for reserve management, collateral trustee services, and cryptocurrency custody for institutional customers. It also said the proposed bank would not be an insured depository institution and would not issue stablecoins. The final approval completes the charter process, while RLUSD issuance stays with Standard Custody & Trust Company.

What changes for RLUSD holders and institutions?

The immediate change is in the oversight of reserve-related services: Ripple says the national trust bank adds federal OCC supervision alongside the New York supervision of the issuer. RLUSD holders still rely on Standard Custody & Trust Company to issue the stablecoin. Institutions may use the new bank’s fiduciary digital asset custody service once it opens. The approval gives Ripple a federally supervised trust bank for those functions, but it does not make the bank RLUSD’s issuer.

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