Ripple gains final OCC approval to launch national trust bank and bring RLUSD under federal oversight

Ripple has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to launch a national trust bank.

Its CEO, Brad Garlinghouse, wrote on X that Ripple National Trust Bank will be a federally supervised platform to support Ripple USD Ripple USD (RLUSD) and offer digital asset custody services to enterprises. 

"We've always said crypto and banks work better together — this is what that looks like. Real innovation, real accountability, federal oversight," Garlinghouse said. 

The full approval comes less than a year after Ripple obtained conditional approval from the OCC. Ripple filed the initial application for the U.S. banking license in July 2025, and received conditional approval on Dec. 12, 2025.

National trust bank charters do not permit deposit-taking or lending and are distinct from full-service commercial bank licenses. Ripple’s structure places reserve management and custody under federal supervision while leaving issuance with the New York-regulated entity.

According to Ripple's announcement, Ripple National Trust Bank is authorized to manage the segregated reserves supporting RLUSD, act as collateral trustee of those reserves for RLUSD holders, and provide fiduciary digital asset custody services. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple's NYDFS-regulated limited purpose trust company. The national charter also adds federal OCC supervision to the existing state-level oversight of the stablecoin.

RLUSD, which launched in December 2024, has grown to a $2.5 billion market capitalization, the company said. Users utilize the stablecoin across Ripple's payment infrastructure and as collateral within Ripple Prime.

Wave of approvals

Meanwhile, Circle Circle Internet Group, Inc. (CRCL) received its final OCC approval in July this year, bringing the USDC reserve under federal supervision. BitGo BitGo Holdings, Inc. (BTGO) received its green light in December 2025, while Coinbase, Crypto.com, and World Liberty Financial have gained conditional approvals this year, among others. 

This wave of OCC approvals to crypto firms has been criticized by some lawmakers, such as Sen. Elizabeth Warren, who accused these of violating the National Bank Act and posing risks to the financial system.

Crypto industry group The Digital Chamber rejected such accusations, arguing that Warren was mischaracterizing the issue as an improper expansion of banking privileges. It noted that national trust charters are limited to trust and related fiduciary activities, and that the firms voluntarily submitted to federal supervision.