Ripple National Trust Bank Receives Final Approval

Ripple has secured final authorization from the Office of the Comptroller of the Currency to launch Ripple National Trust Bank, according to announcements made by CEO Brad Garlinghouse. The milestone gives one of the industry's prominent fintech players a traditional banking-style license under U.S. federal supervision.

The journey toward this regulatory milestone began when Ripple first applied for the banking license in July 2025. Following a conditional approval granted that December, the OCC has now signed off fully on the establishment of the new institution.

Managing RLUSD Reserves and Custody

The newly approved Ripple National Trust Bank will be tasked with managing the reserves that back Ripple’s RLUSD stablecoin. These underlying reserves consist of real money and assets that provide the digital token with its intrinsic value.

In addition to reserve management, the bank will act as a trustee and offer regulated custody services. This structure enables the secure holding of digital assets for large corporations utilizing cryptocurrency for payments, trading, and treasury management operations.

While federal supervision covers reserve management and custody, the issuance of RLUSD remains with Ripple’s New York-regulated entity, Standard Custody & Trust Company. This dual approach establishes both state and federal oversight for different components of the stablecoin's framework.

Context Within the Broader Stablecoin Market

Launched in December 2024, RLUSD has expanded to a market capitalization of approximately $2.5 billion, positioning it among the top 50 stablecoins globally. The token is utilized within Ripple’s payments infrastructure and serves as collateral on Ripple Prime.

The reserves backing the stablecoin are primarily held by BNY and consist of U.S. dollar deposits, U.S. government securities, and other cash-equivalent assets. Ripple has indicated it will continue working closely with both the OCC and New York regulators as the national trust bank begins its operations under upcoming regulatory frameworks.