Ripple wins final OCC approval for national trust bank

Ripple said on Oct. 26 that the Office of the Comptroller of the Currency (OCC) had given final approval to Ripple National Trust Bank, authorizing it to manage RLUSD reserves, act as trustee for those reserves and provide digital asset custody. The company’s announcement says the bank adds federal supervision to Ripple’s stablecoin and custody operations.

What will the trust bank do with RLUSD?

Ripple National Trust Bank will manage the segregated reserves backing RLUSD and act as collateral trustee for those reserves on behalf of stablecoin holders. A collateral trustee holds assets for the benefit of others under defined duties. Ripple says the bank will also provide fiduciary digital asset custody, a service in which a custodian holds assets and is responsible for safeguarding them.

The bank will not issue RLUSD. Ripple says issuance will remain with Standard Custody & Trust Company, its limited purpose trust company regulated by the New York Department of Financial Services. The arrangement separates the stablecoin’s issuer from the federally supervised entity authorized to manage its reserves and provide custody.

What changes with final OCC approval?

The approval completes a step that began with conditional approval on Dec. 12, 2025. The OCC had then conditionally approved Ripple’s application for a new national trust bank. Final approval clears the way for Ripple National Trust Bank to begin operations, although Ripple says it will continue working with the OCC and other regulators as it does so.

Federal oversight now applies to the trust bank’s approved activities. Ripple says the OCC’s supervision adds a federal layer to the state regulation of Standard Custody & Trust Company. It does not move RLUSD issuance into the new bank.

Is this a full-service commercial bank?

No. A national trust bank charter covers trust and fiduciary services; it is distinct from a commercial bank license. The Block’s report says national trust bank charters do not permit deposit-taking or lending. The authorization Ripple announced is focused on managing assets, acting as trustee and providing custody, rather than offering checking accounts or making loans.

For RLUSD holders, the change is in who supervises reserve management and custody, not who issues the stablecoin. Ripple says Standard Custody & Trust Company will remain the issuer, while the new bank will perform specified support functions under federal OCC supervision.

Sources

• company’s announcement — ripple.com
• The Block’s report — theblock.co