Ripple wins final US OCC approval for national trust bank
Ripple secures final OCC approval for national trust bank
Ripple has received final approval from the US Office of the Comptroller of the Currency (OCC) for its national trust bank, the company announced Monday.
The approval completes the chartering process for Ripple National Trust Bank, which first received conditional approval from the OCC in December 2025.
Approved services for the trust bank
The federally supervised trust bank is authorized to offer three main types of services:
- Managing reserves backing Ripple USD (RLUSD), Ripple's stablecoin — a type of cryptocurrency designed to maintain a steady value tied to a real-world asset like the US dollar
- Acting as collateral trustee for the benefit of RLUSD holders
- Providing digital asset custody services, which means holding and safeguarding cryptocurrency assets on behalf of clients
RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple's limited purpose trust company regulated by the New York Department of Financial Services.
What Ripple's CEO said
Ripple CEO Brad Garlinghouse posted about the approval on X, saying: "We've always said crypto and banks work better together — this is what that looks like. Real innovation, real accountability, federal oversight."
Other crypto firms pursuing national trust charters
Ripple follows Circle, which secured final OCC approval for its own national trust bank in July 2026.
Several other crypto firms still have only conditional approval. Coinbase received its preliminary approval in April 2026, while Crypto.com and Stripe-owned Bridge received conditional approvals in February 2026.
What a national trust bank is
A national trust bank is a federally chartered institution focused on holding and managing assets for clients. According to the OCC, most national trust banks differ from typical commercial banks in that they do not accept deposits or make loans, and they do not carry Federal Deposit Insurance Corporation insurance.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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