The OCC has granted final approval for Ripple to establish Ripple National Trust Bank, a federally supervised national trust bank, ten months after conditionally approving its application in December 2025. Once operational, the bank will manage the segregated reserves backing the RLUSD stablecoin, act as collateral trustee for its holders and provide fiduciary digital asset custody services to businesses. RLUSD, launched in December 2024 with a market capitalization of about $2.6 billion, will continue to be issued by Standard Custody & Trust Company under the supervision of the New York Department of Financial Services. The stablecoin will therefore operate under both state and federal supervision, with BNY remaining its primary reserve custodian. The approval comes as community banks are challenging the OCC’s crypto banking charters in court, following criticism from Senator Elizabeth Warren.
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