Ripple announced on Monday that its national trust bank, Ripple National Trust Bank (RNTB), has secured final approval from the Office of the Comptroller of the Currency (OCC). This decision completes the chartering process for RNTB, which had previously received conditional approval from the OCC in December 2025. The newly approved federally supervised institution is authorized to manage reserves backing Ripple USD (RLUSD), serve as a collateral trustee for RLUSD holders, and provide digital asset custody services.
Despite this federal milestone, Ripple clarified that RLUSD will continue to be issued by Standard Custody & Trust Company, a limited purpose trust company regulated by the New York Department of Financial Services. Ripple CEO Brad Garlinghouse emphasized the integration of crypto and banking infrastructure, stating on social media platform X that the approval represents "real innovation, real accountability, federal oversight."
Ripple’s achievement places it alongside Circle, which secured final OCC approval in July. Several other major cryptocurrency firms remain at the conditional approval stage. Coinbase received preliminary green light in April, while Crypto.com and Stripe-owned Bridge obtained conditional approvals in February. A national trust bank is defined as a federally chartered institution focused on holding and managing assets for clients. Unlike typical commercial banks, most national trust banks do not accept deposits or make loans and are not insured by the Federal Deposit Insurance Corporation.
The finalization of Ripple National Trust Bank’s charter marks a significant maturation point for stablecoin issuers seeking regulatory clarity within the traditional banking framework. By securing full OCC approval, Ripple distinguishes itself from competitors still navigating the conditional phase, such as Coinbase and Crypto.com. This status provides a robust legal foundation for managing RLUSD reserves and offering custody services under strict federal supervision, potentially enhancing institutional confidence in the stability and compliance of Ripple’s dollar-backed token.
However, the operational structure reveals a nuanced approach to regulation. While RNTB handles reserve management and custody, the actual issuance of RLUSD remains with Standard Custody & Trust Company under New York state oversight. This dual-track model suggests that Ripple is leveraging federal credibility for asset security while maintaining existing state-regulated issuance mechanisms. For the broader market, this sets a precedent for how crypto-native firms can integrate into the US financial system without fully abandoning their established regulatory footholds, though it also highlights the complex layering of jurisdictional requirements facing digital asset custodians.
