Ripple wins final OCC approval for national trust bank

Ripple says the Office of the Comptroller of the Currency has given final approval to Ripple National Trust Bank, completing the charter process for a federally supervised trust bank that will manage reserves backing RLUSD and provide digital asset custody. The company announced the approval on Oct. 26, following conditional approval in December 2025. The Ripple announcement says the bank’s approved work includes managing RLUSD’s segregated reserves and serving as their collateral trustee for holders.

What does the charter authorize Ripple National Trust Bank to do?

It authorizes trust and fiduciary activities, rather than the full range of services associated with a commercial bank. The OCC’s December 2025 decision letter describes the proposed bank’s reserve-management work as managing liquid assets underlying RLUSD on a directed basis. It also describes collateral trustee services for RLUSD holders on a fiduciary basis, plus cryptocurrency custody for institutional customers and Ripple affiliates.

The OCC letter says those activities fall within national trust bank powers under federal law, including 12 U.S.C. 92a and 24(Seventh). The OCC’s original conditional approval did not itself allow the bank to commence business: the letter said final approval would follow only after preopening requirements were met. Ripple now says that final approval has been granted. It has not announced an opening date in its release.

A national trust bank charter does not make RNTB a deposit-taking commercial bank. The Block reported on the approval that national trust bank charters do not permit deposit-taking or lending. The OCC’s earlier letter separately states that the proposed bank would not be an insured depository institution. The authorization centers on trust, fiduciary and custody work.

Will the new bank issue RLUSD?

No. Ripple says RLUSD will continue to be issued by Standard Custody & Trust Company, its New York Department of Financial Services-regulated limited purpose trust company. RNTB will add OCC supervision around specified reserve and fiduciary functions; the issuer remains the New York-regulated entity.

The arrangement separates token issuance from reserve administration and custody. Under the OCC’s December letter, RNTB would manage the segregated reserve on SCTC’s direction and act as collateral trustee for holders. Ripple says the bank will also be authorized to provide fiduciary digital asset custody once it opens. Those roles do not make RNTB the stablecoin’s issuer.

What changes for RLUSD holders and institutional clients?

The change is a federal supervisory layer over RNTB’s approved trust activities. Ripple says the bank will manage RLUSD’s segregated reserves, hold the collateral trustee role for holders, and provide fiduciary custody services. RLUSD’s issuance remains under SCTC’s New York charter, so the new charter changes the regulatory structure around the stablecoin without transferring issuance to RNTB.

Ripple’s announcement says RLUSD launched in December 2024 and reports a $2.5 billion market capitalization. It names BNY as the stablecoin’s primary reserve custodian and says Ripple publishes monthly independent third-party attestations of circulating supply and reserve assets. These are company-reported figures and arrangements; the announcement does not specify when RNTB will begin operations or detail its final preopening conditions.

For institutional clients, the practical addition is a federally supervised provider authorized for fiduciary digital asset custody. For RLUSD, the approved bank can administer reserve assets and serve holders as collateral trustee, while the existing issuer continues to issue the token. Ripple says it will continue working with the OCC, NYDFS and other regulators as RNTB begins operations.

Sources and documents

• Ripple announcement — ripple.com
• reported on the approval — theblock.co