Ripple wins final approval for U.S. national trust bank

The Office of the Comptroller of the Currency (OCC) has granted final approval for Ripple National Trust Bank, Ripple CEO Brad Garlinghouse announced on X late Monday. Ripple can now operate a specialized bank subject to federal supervision in the United States. Ripple applied for the license in July 2025. The OCC granted conditional approval in December 2025 and finalized approval this week.

Ripple National Trust Bank will manage the reserves that back Ripple's RLUSD stablecoin. The bank will serve as trustee for those reserves. The bank will also provide regulated custody services to large companies using digital assets for payments, trading and treasury management. Standard Custody & Trust Company, Ripple's unit regulated in New York, will remain the issuer of RLUSD. The new bank introduces federal oversight alongside state supervision of parts of RLUSD's operations.

RLUSD launched in December 2024 and has reached about $2.5 billion in market value, ranking among the world's 50 largest stablecoins. RLUSD's backing consists of U.S. dollar deposits, U.S. government securities and other assets similar to cash. BNY holds the majority of those reserves. Ripple uses RLUSD in Ripple's payments business. RLUSD also serves as collateral on Ripple Prime. Ripple uses XRP, the world's fifth-largest digital asset, to support cross-border transactions.

Ripple develops blockchain and cryptocurrency technology for cross-border transactions and tokenization. The banking license signals further integration of digital assets into the regulated traditional financial system. Garlinghouse said in a press release that crypto companies and banks function better together. Garlinghouse said Ripple has spent more than a decade developing regulated financial infrastructure that institutions can use at scale. Garlinghouse said the national trust charter strengthens the foundation for RLUSD and institutional products Ripple is developing for payments, custody and capital markets.

Ripple said the company will continue working with the OCC, New York regulators and other authorities as the bank begins operations. Ripple highlighted that cooperation as the United States implements new stablecoin rules under the GENIUS Act.