The OCC has granted final approval for Ripple National Trust Bank, a federal trust bank that will manage the reserves of the RLUSD stablecoin and provide digital asset custody services to businesses. Ripple received conditional approval on December 12, 2025, less than one year after filing its bank charter application in July 2025. Unlike a commercial bank, the entity cannot accept deposits or make loans, and the issuance of RLUSD will remain the responsibility of Standard Custody & Trust Company. Launched in December 2024, RLUSD now has a market capitalization of more than $2.6 billion and ranks ninth among stablecoins, with a market share of roughly 0.9%. The approval comes amid a broader wave of federal authorizations following the signing of the GENIUS Act in July 2025, which established the first comprehensive federal framework for payment stablecoins in the United States.
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