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Ripple National Trust Bank Gains Final OCC Approval as Federal Charter
The U.S. Office of the Comptroller of the Currency granted final approval on October 26, 2026, for Ripple to establish Ripple National Trust Bank as a federally chartered national trust institution.
The U.S. Office of the Comptroller of the Currency granted final approval on October 26, 2026, for Ripple to charter Ripple National Trust Bank. The new entity will operate as a federally supervised national trust bank headquartered in New York under proposed charter number 25364.
Ripple applied for the charter in July 2025. The OCC issued conditional approval in December 2025 alongside similar decisions for other digital asset firms. Final approval removes the remaining regulatory hurdles for the bank to begin operations once pre-opening conditions are met.
Ripple National Trust Bank Scope of Activities Under Federal Charter
Ripple National Trust Bank received authorization limited to fiduciary and trust activities. These include managing segregated reserves that back the RLUSD stablecoin, serving as collateral trustee for those reserves on behalf of RLUSD holders, and offering fiduciary digital asset custody services to institutional clients. The bank cannot accept deposits or extend loans under the approved charter.
RLUSD issuance continues through Standard Custody & Trust Company, Ripple’s existing New York Department of Financial Services-regulated limited-purpose trust company. BNY Mellon acts as the primary reserve custodian. The stablecoin maintains backing through USD deposits, U.S. government securities, and cash equivalents, supported by monthly third-party attestations.
RLUSD entered circulation in December 2024 and reached an approximate market capitalization of 2.5 billion dollars. The token supports Ripple’s payments infrastructure and serves as collateral within Ripple Prime. The new federal charter adds a layer of OCC supervision to the existing state-level oversight from the NYDFS.
Regulatory Context and Planned Operations Timeline
National trust banks function under OCC supervision yet remain separate from full-service commercial banks. They do not carry FDIC insurance. The approval strengthens federal oversight of RLUSD reserves and institutional custody arrangements without altering the operational structure of stablecoin issuance.
Ripple plans to commence bank operations after completing any outstanding pre-opening requirements set by the OCC. The company stated it will maintain ongoing coordination with the OCC, NYDFS, and additional regulators under the GENIUS Act framework. CEO Brad Garlinghouse described the approval as establishing a federally supervised platform to support RLUSD and deliver digital asset custody to enterprise clients.
The development reflects continued integration of digital asset activities within established federal banking supervision structures. Ripple National Trust Bank will operate alongside other OCC-approved trust institutions focused on fiduciary services for cryptocurrency-related assets.
Frequently asked questions
What activities can Ripple National Trust Bank perform?
The bank is authorized for fiduciary and trust activities only. These cover management of RLUSD reserve assets, collateral trustee services for stablecoin holders, and institutional digital asset custody. Deposit taking and lending remain outside the approved scope.
How does the OCC approval affect RLUSD operations?
RLUSD issuance stays with Standard Custody & Trust Company. The new bank adds federal oversight of reserve management and custody while existing NYDFS supervision and BNY Mellon custody arrangements continue unchanged.
When will Ripple National Trust Bank begin operations?
Operations start after the bank satisfies remaining pre-opening requirements from the OCC. No specific start date has been announced beyond the October 26, 2026, final approval.
What is the difference between this national trust bank and a full commercial bank?
National trust banks operate under OCC rules but focus solely on fiduciary services. They lack FDIC insurance and cannot accept deposits or make loans, unlike full-service commercial banks.
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