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Ripple wins final OCC approval for national trust bank

Ripple says the OCC cleared its national trust bank, adding federal oversight for RLUSD reserves and custody while the stablecoin remains issued in New York.

Merkle Street Newsroom#4463743 min read

Ripple wins final OCC approval for national trust bank

Ripple said on Oct. 26 that the Office of the Comptroller of the Currency had granted final approval for Ripple National Trust Bank, adding federal supervision for services tied to its RLUSD stablecoin. Under the arrangement, Standard Custody & Trust Company, Ripple’s New York-regulated trust company, continues to issue RLUSD. The new bank is authorized to manage the stablecoin’s segregated reserves, act as collateral trustee for holders and, once open, provide fiduciary digital asset custody. Ripple’s announcement describes the approval; The Block’s report also notes that issuance stays with the New York entity.

How will the trust bank work with RLUSD?

Standard Custody & Trust Company will issue RLUSD, while Ripple National Trust Bank takes on separate reserve and fiduciary roles. The OCC’s December 2025 conditional approval letter described the planned process: the bank would manage a segregated pool of liquid assets underlying RLUSD on a directed basis, then serve as fiduciary collateral trustee for holders. In plain terms, the issuer creates the stablecoin, while the bank oversees assets set aside to support it and holds a trustee role for holders.

That split remains in place after the final approval. Ripple says the new charter adds federal OCC supervision to the existing New York oversight of RLUSD. The charter does not make the national trust bank the stablecoin’s issuer.

What can the bank do once it opens?

Ripple says the bank can provide fiduciary digital asset custody services to institutional customers. Custody means holding clients’ digital assets on their behalf; the fiduciary role means the bank is responsible for carrying out its duties in their interest. The OCC’s earlier letter describes the planned custody service as available to Ripple affiliates and unaffiliated institutional customers.

The Block reports that national trust bank charters do not permit deposit-taking or lending, distinguishing this model from a full-service commercial bank. Ripple’s announcement does not give an opening date. It says the bank will begin operations after approval, so the final charter does not by itself establish that its services are already live.

What changed from the earlier conditional approval?

The OCC conditionally approved Ripple’s charter application on Dec. 12, 2025. Its letter said final approval and authorization to commence business would follow after pre-opening requirements were met. Ripple now says the OCC has granted that final approval. The company has not disclosed in its announcement when the bank will open.

The practical change is the federal trust-bank framework around reserve management and planned custody. RLUSD remains issued by the New York-regulated company, while Ripple National Trust Bank adds a federally supervised role in handling reserves and institutional digital assets.

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