Ripple received final approval from the OCC to establish Ripple National Trust Bank, a national trust bank supervised by the US federal government. The institution will manage reserves for the RLUSD stablecoin, serve as a collateral trustee and provide digital asset custody services to institutional clients. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s subsidiary regulated by the New York Department of Financial Services, and its market capitalization has reached approximately $2.5 billion since its launch in December 2024. Despite the regulatory breakthrough, XRP was trading between $1.30 and $1.31 in the early hours of October 27, without a significant rally.
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