Ripple Receives Final Approval from OCC for National Trust Bank

The U.S. Office of the Comptroller of the Currency (OCC) has approved Ripple National Trust Bank (RNTB) – allowing Ripple to operate a specialized bank under federal supervision. This was announced late Monday evening on X by Ripple CEO Brad Garlinghouse.

Ripple applied for a banking license in July 2025. In December, the OCC issued conditional approval, and this week it was finalized.

The bank will manage the reserves backing the Ripple stablecoin RLUSD, act as a trustee bank for these reserves, and provide regulated custodial services: storing digital assets for large companies that use cryptocurrencies in payments, trading, and treasury management. The issuance of RLUSD will continue to be handled by Ripple's New York division – Standard Custody & Trust Company. Thus, both state and federal regulators will now oversee parts of the RLUSD infrastructure.

“For years, we have said that crypto and banks work better together. The final approval of Ripple National Trust Bank is what this looks like in practice,” said Garlinghouse. “We have spent over a decade building a regulated financial infrastructure that institutions can truly use at scale. The national trust charter gives us an even stronger foundation for RLUSD and the institutional products we are building in payments, custody, and capital markets.”

What is known about RLUSD

The stablecoin RLUSD was launched in December 2024 and has since grown to a capitalization of about $2.5 billion, entering the top 50 stablecoins worldwide. It is used in Ripple's payment business and as collateral on Ripple Prime. The coin is backed by dollar deposits, U.S. government securities, and other near-cash assets; the majority of reserves are held by BNY. Ripple also uses XRP – the fifth-largest digital asset in the world – for cross-border transactions.

According to the company, it will continue to work with the OCC, New York regulators, and other authorities as the bank launches, especially in light of the implementation of new stablecoin rules in the U.S. under the GENIUS Act.