Ripple has received final approval from the US Office of the Comptroller of the Currency to launch a national trust bank, The Block reported on October 26. CEO Brad Garlinghouse announced the news on X, saying: “We’ve always said crypto and banks work better together — this is what that looks like.”
Ripple applied in July 2025 and won conditional approval on December 12, 2025, according to The Block. Ripple National Trust Bank will manage the segregated reserves backing its RLUSD stablecoin, act as collateral trustee for those reserves on behalf of holders, and provide fiduciary custody of digital assets to enterprises. The charter does not allow deposit-taking or lending, so it is not a full-service commercial bank.
RLUSD launched in December 2024 and has a market capitalization of about $2.5 billion, according to Ripple. It continues to be issued by Standard Custody & Trust Company, a New York Department of Financial Services-regulated trust company, and now gains federal OCC supervision on top of state oversight. The Block gave no launch date for the bank.
The approval fits a wider pattern. Circle received final OCC approval for a USDC-related trust bank in July, BitGo in December 2025, and Coinbase, Crypto.com and World Liberty Financial hold conditional approvals this year, according to The Block. Senator Elizabeth Warren has criticized the charters as violating the National Bank Act, while the Digital Chamber says they are limited to trust and fiduciary activities.
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