Ripple says its national trust bank has final approval
Ripple says the OCC has granted final approval for Ripple National Trust Bank, whose planned work includes managing reserves backing the RLUSD stablecoin.
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Ripple says the US Office of the Comptroller of the Currency has granted final approval to establish Ripple National Trust Bank, a federally supervised institution whose planned activities include managing reserves behind the RLUSD stablecoin. The company announced the decision on 26 October.
The approval follows the OCC’s conditional approval in December 2025. Ripple says the trust bank will also act as collateral trustee for the segregated reserves on behalf of RLUSD holders and will be authorised to provide fiduciary digital asset custody when it opens.
Who handles RLUSD
RLUSD is a US dollar-backed stablecoin: a digital token designed to maintain a value of one dollar and supported by assets held in reserve. Ripple says those assets include US dollar deposits, US government securities and other cash equivalents.
Three institutions have distinct roles. Standard Custody & Trust Company, a Ripple company regulated by the New York State Department of Financial Services, continues to issue RLUSD. BNY is the primary reserve custodian, according to Ripple. The new national trust bank’s approved work covers reserve management and acting as collateral trustee.
Ripple says it publishes monthly independent attestations covering the token’s circulating supply and reserve assets. Those attestations are snapshots of the reserves at a stated date.
A national trust charter adds federal supervision
The OCC regulates nationally chartered banks and federal savings associations. A national trust bank focuses on fiduciary services, such as holding or managing assets for clients. Ripple says its bank’s approved business plan includes fiduciary custody of digital assets as well as its RLUSD work.
The OCC’s December 2025 announcement placed Ripple among five applicants receiving conditional approval for national trust bank charters or conversions. Ripple now reports that its own application has reached final approval. Its announcement describes the institution’s approved activities and refers to the bank beginning operations.
RLUSD has grown since its launch
Ripple launched RLUSD in December 2024. In its 26 October announcement, the company put the stablecoin’s market value at $2.5 billion and said it was used within Ripple’s payments infrastructure and as collateral in Ripple Prime.
The trust bank gives Ripple a federally supervised route for the reserve-management and custody services described in its announcement, alongside the existing New York supervision of the RLUSD issuer.
