The Office of the Comptroller of the Currency has granted Ripple National Trust Bank its final approval. The bank will oversee the reserves behind the RLUSD stablecoin and offer custody, adding federal supervision to a token that is still issued under New York rules.
Federal regulator completes Ripple's chartering process
The Office of the Comptroller of the Currency has given Ripple National Trust Bank, known as RNTB, its last required sign-off. CEO Brad Garlinghouse announced the decision on X on Monday, according to CoinDesk and Cointelegraph.
The decision finishes a process that began when Ripple applied in July 2025. CoinDesk reported that the OCC gave a conditional green light in December 2025 and completed its sign-off this week.
Garlinghouse framed the outcome as proof of Ripple's long-held view that crypto firms and banks should work together. In his post he said crypto and banks "work better together" and pointed to federal oversight and accountability as the result.
How the RLUSD structure splits issuance from reserve management
The charter does not move the issuance of RLUSD. Cointelegraph reported that Standard Custody & Trust Company, a limited purpose trust company overseen by the New York Department of Financial Services, will keep issuing the token.
What changes is who looks after the assets behind it. Per Ripple's description, as relayed by Cointelegraph, the new bank is authorized to run the reserves that back RLUSD and to serve as collateral trustee on behalf of the token's holders. It can also provide digital asset custody.
CoinDesk added that the arrangement leaves RLUSD with both state and federal regulators overseeing parts of its setup. The Block described the same split in its summary, with reserve management and custody under federal supervision and issuance remaining with the New York-regulated entity.
Key figures and timeline
The dates and amounts below come from CoinDesk and Cointelegraph. They show how long the process took and how large the token is today.
- July 2025: Ripple files its application for the national trust bank, according to CoinDesk.
- December 2025: the OCC grants conditional approval, per both CoinDesk and Cointelegraph.
- Monday: Ripple announces final approval, which Cointelegraph says completes the chartering process.
- December 2024: RLUSD launches, CoinDesk reported.
- About $2.5 billion: RLUSD's current market value, which CoinDesk says places it among the world's top 50 stablecoins.
- 5th: XRP's position among digital assets by size, as CoinDesk described it. Ripple also uses XRP for cross-border transactions.
What a national trust bank is, and what it is not
A national trust bank is an institution chartered at the federal level whose job is to hold and manage assets for clients. Cointelegraph, citing the OCC, noted that most such banks neither take deposits nor lend. They also do not carry Federal Deposit Insurance Corporation insurance.
That distinction matters for how readers should interpret the headline. The charter gives Ripple a banking-style license for custody and reserve work. It does not turn Ripple into a lender, and it does not make RLUSD balances insured deposits.
CoinDesk said the bank will serve large companies using crypto for payments, trading and treasury management. It also reported that the assets behind RLUSD include U.S. dollar deposits, U.S. government securities and similar cash-like holdings. According to CoinDesk, BNY is the main holder of those reserves, and the sources do not say whether that will change.
Where the four outlets agree and where they add detail
The four outlets agree on the core facts. The approval is final, the bank handles reserves and custody, and issuance stays with the New York-regulated company. The Defiant used the term fiduciary custody in its summary, while the other outlets described custody services more generally.
CoinDesk gave the most background on RLUSD itself. That included the stablecoin's market value, its role as collateral on Ripple Prime, and the fact that BNY holds most of the reserves. Cointelegraph focused on the regulatory landscape and the OCC's own description of trust banks.
The outlets differ slightly on emphasis, not substance. CoinDesk read the approval as a sign of digital assets moving deeper into the regulated financial system. Cointelegraph kept to the mechanics and the competitive picture. The Block and The Defiant were available only through their headlines and summaries, so details beyond those lines rest on the two longer reports.
Ripple joins Circle at the final-approval stage
Cointelegraph placed the decision in a wider race for federal charters. Circle received its final OCC approval in July, which makes Ripple the second crypto firm named in the report to reach that stage.
Others are still waiting. Coinbase was given preliminary clearance in April, while Crypto.com and Stripe-owned Bridge were granted conditional approvals in February.
The practical effect for stablecoin issuers is a clearer path to federal oversight of the assets that back their tokens. Ripple said it will keep working with the OCC and New York regulators as the bank starts operating. It also named the new U.S. stablecoin rules under the GENIUS Act as part of that context, according to CoinDesk.
What to watch as the bank starts operating
Neither outlet reported a launch date for RNTB's services. Holders and business users can watch for Ripple's own disclosures on when reserve management formally moves under the bank, and whether reserve custody arrangements with BNY change.
Another open question is how the dual oversight works in practice. RLUSD now has a New York issuer and a federal trust bank, and the sources do not describe how responsibilities are divided if the two regulators ask for different things.
Cointelegraph also linked to a separate report on an advocacy group pushing back against a lawsuit by banks challenging OCC charters. The sources do not say whether that dispute could affect Ripple's charter, so it remains a development to follow.
Market snapshot
| Asset | Price | 24h | 7d | Market cap |
|---|---|---|---|---|
| XRP (XRP) | $1.30 | +1.1% | -0.4% | $82.22 billion |
CoinGecko data as of 2026-10-27 (UTC).
FAQ
What did the OCC approve for Ripple?
The OCC gave final approval to Ripple National Trust Bank. According to CoinDesk and Cointelegraph, the bank can manage the reserves behind RLUSD, act as collateral trustee for RLUSD holders and provide digital asset custody.
Does the new bank issue RLUSD?
No. Cointelegraph reported that Standard Custody & Trust Company, which answers to the New York Department of Financial Services, will continue to issue RLUSD. The national trust bank handles reserves and custody.
Are funds at a national trust bank FDIC insured?
Cointelegraph, citing the OCC, said that most banks of this type neither take deposits nor lend, and that they lack FDIC insurance. The sources do not say that RLUSD holdings gain deposit insurance through this charter.
Sources
- CoinDesk: Ripple gets a final go-ahead to launch its own U.S. national trust bank (2026-10-27)
- The Block: Ripple gains final OCC approval to launch national trust bank and bring RLUSD under federal oversight (2026-10-27)
- Cointelegraph: Ripple wins final US approval for national trust bank (2026-10-27)
- The Defiant: Ripple Wins Final OCC Trust Bank Approval for RLUSD Reserves and Custody (2026-10-26)
- CoinGecko (market data)
Written by the Coinvote news desk from reporting by CoinDesk, The Block, Cointelegraph and The Defiant. Not financial advice.
