Ripple Secures Final OCC Charter for Its National Trust Bank, Completing Path to RLUSD Reserve Management

Ripple National Trust Bank Receives Final Federal Approval

Ripple confirmed on Monday that its national trust bank has obtained final clearance from the Office of the Comptroller of the Currency (OCC), bringing to a close a multi-month chartering process. The entity, designated as Ripple National Trust Bank (RNTB), had earlier secured a conditional charter from the OCC back in December 2025. With the final sign-off, the company now holds full federal authorization to operate as a trust institution.

Under the charter, RNTB is empowered to perform three core functions: managing the reserves that back Ripple's stablecoin RLUSD (Ripple USD), serving as the collateral trustee acting in the interest of RLUSD holders, and delivering digital asset custody services to clients. The designation places the operation under continuous federal oversight, a milestone that Ripple has positioned as a validation of its long-standing push to integrate blockchain technology within the traditional banking framework.

In a statement posted on X, Ripple chief executive Brad Garlinghouse framed the approval as the culmination of a strategy he has championed for years. He noted that the company has consistently argued that cryptocurrency and the banking sector are more effective when they operate in tandem, and described the new charter as a concrete example of that philosophy in action. Garlinghouse emphasized the combination of genuine innovation, real accountability, and federal oversight that the arrangement now provides.

RLUSD Issuance Remains with New York–Regulated Entity

Despite the new federal charter, the actual issuance of RLUSD will continue to be handled by Standard Custody & Trust Company, a limited-purpose trust company that Ripple operates under the regulatory purview of the New York Department of Financial Services. This arrangement means that the stablecoin's creation and distribution stay within New York's regulatory perimeter, while the broader trust and custody functions shift to the federally chartered RNTB.

The split structure allows Ripple to leverage the credibility of a national charter for reserve management and custody, while maintaining compliance with New York's specific stablecoin and trust regulations for the coin's issuance mechanics.

Ripple Joins a Growing Cohort of Crypto Firms Pursuing Federal Trust Charters

Ripple's final approval places it alongside Circle, which earned its definitive OCC charter in July. Both companies are now among the few digital-asset firms to move past the conditional stage and into full federal trust-bank operation.

Several other major players in the crypto and fintech space are still working through the process. Coinbase obtained its preliminary green light from the OCC in April. Crypto.com and Bridge, the stablecoin project owned by Stripe, each received conditional approvals in February. Each of these firms remains in the interim phase, awaiting the same final clearance that Ripple has now secured.

The wave of applications underscores a broader industry shift toward seeking federal regulatory legitimacy. For crypto companies that have historically operated in a patchwork of state-level regimes, a national trust charter offers a single, clearly defined federal framework.

What a National Trust Bank Charter Actually Entails

According to the OCC's own definitions, a national trust bank is a federally chartered institution whose primary purpose is to hold and manage assets on behalf of its clients. The model is deliberately narrower in scope than that of a conventional commercial bank. Most national trust banks do not take deposits from the general public, do not extend loans, and do not carry Federal Deposit Insurance Corporation (FDIC) coverage. In other words, the charter is tailored for fiduciary and custodial functions rather than for the broad range of services that define a typical checking-and-savings institution.

For Ripple, this means RNTB will operate in a regulatory lane specifically designed for asset management and custody, with the OCC serving as its primary federal supervisor. That distinction is significant for RLUSD holders, as it introduces a layer of federal accountability around the reserves and collateral that underpin the stablecoin, without the broader consumer-banking obligations that would accompany a full national bank charter.

The approval is widely seen as a milestone for the convergence of digital-asset finance and the U.S. banking system, setting a template that the remaining conditional applicants may follow as they progress through their own chartering timelines.