Ripple says OCC gave its trust bank final approval

Ripple said on Oct. 26 that the Office of the Comptroller of the Currency (OCC) had given final approval to charter Ripple National Trust Bank, adding federal supervision for services tied to RLUSD. In its announcement, Ripple said the bank can manage RLUSD’s segregated reserves, act as their collateral trustee for holders and provide fiduciary digital asset custody. The Block also reported the approval and described the split between reserve management and issuance.

The roles are divided. Standard Custody & Trust Company, Ripple’s New York Department of Financial Services-regulated trust company, will continue to issue RLUSD. Ripple National Trust Bank will handle reserve management and collateral trustee services under OCC supervision. Think of the issuer as creating and redeeming the token, while the trustee oversees assets set aside to support it.

What does the federal approval cover?

It covers the trust bank’s charter and specified services, not a transfer of RLUSD issuance to the OCC-supervised entity. Ripple says the bank’s approved activities include managing the segregated reserve, serving as collateral trustee for RLUSD holders and providing fiduciary custody of digital assets. The Block reports that national trust bank charters do not permit deposit-taking or lending, distinguishing this structure from a full-service commercial bank.

The custody service is intended for institutional customers, according to Ripple. In a fiduciary role, the bank holds or manages assets on behalf of clients under duties attached to that role. Ripple says the bank’s business plan extends beyond RLUSD support, but its announcement does not give a date for when the bank will begin operating.

What changes for RLUSD holders?

The change is federal oversight of the reserve-management and custody functions described by Ripple; the stablecoin’s issuer remains Standard Custody & Trust Company, under New York state regulation. The OCC would supervise the new national trust bank, adding a federal layer to the arrangement. The Block reported the same division of responsibilities.

Ripple said the final approval follows conditional OCC approval in December 2025. The OCC’s public release at that time said Ripple’s application had received conditional approval, with pre-opening requirements still to be met. Ripple now says the OCC has granted final approval, but the final announcement and details about the bank’s approved activities cited here come from Ripple’s Oct. 26 statement. The distinction matters: authorization of the trust bank’s functions does not mean RLUSD has a new issuer or that the bank is already open.

Sources

• announcement — ripple.com