Ripple secured final approval from the Office of the Comptroller of the Currency (OCC) to operate Ripple National Trust Bank (RNTB), a national trust bank chartered to manage dollar deposits, US government securities, and cash equivalents backing its Ripple USD (RLUSD) stablecoin. The bank will also serve as trustee over those reserves on behalf of RLUSD token holders.
RNTB received conditional approval in December and began operating under OCC supervision following the final sign-off announced on October 26, 2026. The charter enables the bank to offer fiduciary digital asset custody services to enterprises, positioning Ripple alongside other approved custodians including Circle, BitGo, and Fidelity Digital Assets.
RLUSD Supply Surges While XRP Lags
RLUSD supply has grown substantially, rising from approximately $1.38 billion in January to about $2.57 billion, an 86% increase. Over the same period, XRP traded lower, declining from roughly $2.08 to $1.31, a 37% drop.
Most RLUSD circulates outside the XRP Ledger, with approximately 61% on Ethereum and 39% on the XRP Ledger (XRPL). This distribution means that RLUSD activity on Ethereum generates no XRP fees, while XRPL transaction fees remain too minimal to meaningfully impact XRP supply dynamics.
Limited Near-Term Impact on XRP
The bank charter's direct benefits flow primarily to RLUSD holders and potential institutional custody clients rather than XRP token holders. Key variables for XRP remain the composition of assets RNTB chooses to custody once operational and whether RLUSD issuance shifts toward the XRPL in ways that would tie the stablecoin's growth more closely to the token.
Until these factors become clearer, XRP price movements will likely depend more on broader market conditions than on the charter itself.
