Ripple wins final OCC approval for national trust bank backing RLUSD stablecoin
Author: Crypffalo Research · 12:53 27/10/2026
The OCC has granted final approval for Ripple National Trust Bank, which will manage reserves for the roughly $2.5 billion RLUSD stablecoin and offer institutional custody.
Ripple has received final approval from the US Office of the Comptroller of the Currency (OCC) to launch Ripple National Trust Bank (RNTB). CEO Brad Garlinghouse announced the news on X late Monday, Oct 26, US time.
The decision comes roughly 10 months after the OCC granted conditional approval on Dec 12, 2025. The new bank will manage the reserves behind Ripple's RLUSD stablecoin, which carries a market value of about $2.5 billion.
Key takeaways
- The news: The OCC granted final approval for Ripple National Trust Bank, a federally supervised national trust bank.
- Role: RNTB will manage RLUSD reserves, act as collateral trustee and offer digital asset custody to institutions.
- Scale: RLUSD is worth about $2.5 billion and launched in December 2024.
- Limits: RNTB is a narrow bank that does not take deposits or make loans like a commercial bank.
- XRP price: XRP traded near $1.30 on Tuesday with no notable reaction to the news.
What the new charter allows Ripple to do
Ripple applied for the banking license in July 2025. According to CoinDesk, RNTB will manage and serve as trustee for the reserves backing RLUSD.
The bank will also provide regulated custody for institutional clients. That covers digital assets used in payments, trading and corporate treasury management.
RLUSD will still be issued by Standard Custody & Trust Company, a trust company licensed by the New York Department of Financial Services (NYDFS). The stablecoin now sits under two layers of oversight: state-level in New York and federal through the OCC.
BNY remains the primary custodian of RLUSD reserves. The reserves consist of US dollar deposits, US government securities and cash equivalents, with monthly third-party attestations.
Context: a wave of bank charters for crypto firms
Ripple is not alone. On Dec 12, 2025, the OCC conditionally approved five national trust bank applications tied to digital assets:
- New charters: First National Digital Currency Bank and Ripple National Trust Bank.
- Conversions from state trust companies: BitGo, Fidelity Digital Assets and Paxos.
Ripple's approval lands only weeks after the OCC finalized its first rule implementing the GENIUS Act for payment stablecoins, effective January 2027. Cointelegraph also reported that on Oct 26 the OCC urged community banks to consider becoming payment stablecoin issuers.
Garlinghouse wrote that "the revolution isn't happening outside the system." He said a national charter gives RLUSD and enterprise digital asset custody a stronger foundation.
What it means for crypto markets
In the short term, the news has not moved prices much. XRP traded around $1.30, while bitcoin hovered near $80,000 as markets wait for this week's Fed rate decision.
- Bull case: Federal supervision could make RLUSD easier for banks, funds and large companies to adopt, expanding the role of Ripple's ecosystem in payments and custody.
- Risk case: A charter does not automatically create demand for XRP. The stablecoin market is crowded, and overall sentiment still hinges on the Fed and ETF flows.
Longer term, more crypto firms obtaining bank charters signals that the line between traditional finance and digital assets in the US keeps blurring.
What to watch next
- When RNTB officially begins operations and who its first institutional clients are.
- RLUSD's growth in the coming months under federal oversight.
- Final charter decisions for the remaining applicants such as BitGo, Fidelity Digital Assets and Paxos.
- This week's Fed rate decision; see the economic calendar and real-time liquidations.
Frequently Asked Questions
How is a national trust bank different from a commercial bank?
A trust bank focuses on custody, fiduciary services and asset management. RNTB will not take deposits or make loans like a regular bank.
Does the charter change who issues RLUSD?
No. RLUSD is still issued by Standard Custody & Trust Company in New York, while RNTB handles reserves and custody.
How has XRP reacted?
As of Tuesday, Oct 27, XRP traded around $1.30 with no major move following the news.
*This content is for information only and is not financial advice.*
Tags: Ripple, XRP, RLUSD, OCC, Stablecoin
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