Ripple has received final approval from the US Office of the Comptroller of the Currency (OCC) to operate Ripple National Trust Bank. The OCC granted final approval on October 26, completing a review that began when the regulator issued conditional approval in December 2025.
The approval comes ahead of Ripple Swell, the company’s annual conference. It makes Ripple one of only a few crypto-native firms operating under direct federal banking supervision in the United States.
What the trust bank will do
Ripple National Trust Bank will be built around RLUSD, Ripple’s dollar-backed stablecoin. Its main roles will be to:
- Manage RLUSD reserves by holding and overseeing the assets backing the stablecoin.
- Act as collateral trustee by protecting collateral on behalf of RLUSD holders.
- Offer custody by storing digital assets for businesses and institutions under federal rules.
A small group of federally supervised crypto firms
With the approval, Ripple joins a handful of crypto companies holding national trust bank status. The group includes Circle, which issues USDC, as well as BitGo and Fidelity Digital Assets. The list now includes issuers of two of the largest regulated dollar stablecoins.
Leadership response
CEO Brad Garlinghouse said the charter gives RLUSD a federally supervised base and described it as proof that crypto and traditional banking can work together.
“The revolution isn’t happening outside the system,” he wrote on X. “It’s happening from within it.”
Chief Legal Officer Stuart Alderoty said the outcome follows Ripple’s decision years ago to “build within the regulatory perimeter, not around it.” He said clear rules and strict oversight are what allow new financial systems to earn trust and grow.
Jack McDonald, who leads Ripple’s stablecoin business, said the charter goes beyond paperwork. He said it puts federal banking supervision directly into the infrastructure institutions use.
Why it matters for RLUSD and XRP
Large institutions often require stablecoin reserves to be held by a regulated custodian. With a federally chartered trust bank managing its reserves, RLUSD can now meet that requirement. That could make it easier for banks, asset managers and corporate treasuries to use the stablecoin.
The charter covers RLUSD and custody, not XRP directly. Some community members expect more liquidity and use for XRP as RLUSD grows, since the two often trade together on the XRP Ledger. That link remains a hope, not a confirmed result. Still, the approval strengthens Ripple’s standing with regulators as it builds out its business.
