Ripple Secures US Approval for National Trust Bank
BITmarkets Team
Oct 29, 2026
The approval completes the federal chartering process that began when Ripple received conditional authorization from the OCC in December 2025. The newly approved national trust bank will operate under federal supervision, providing services related to digital asset custody and the management of reserves supporting Ripple's US dollar-backed stablecoin, RLUSD.
Ripple secures federal approval for national trust bank
With the OCC's final authorization, Ripple National Trust Bank is permitted to manage the reserve assets backing RLUSD and provide custody services for digital assets. The institution is also authorized to act as a collateral trustee on behalf of RLUSD holders, adding another layer of oversight to the management of assets supporting the stablecoin.
However, the approval does not change the entity responsible for issuing RLUSD. The stablecoin will continue to be issued by Standard Custody & Trust Company, Ripple's limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS).
The establishment of RNTB allows Ripple to expand its federally supervised financial infrastructure while maintaining its existing state-regulated stablecoin issuance arrangement. Ripple CEO Brad Garlinghouse welcomed the development in a post on X, highlighting the relationship between traditional banking and cryptocurrency innovation.
“We’ve always said crypto and banks work better together — this is what that looks like. Real innovation, real accountability, federal oversight,” Garlinghouse said.
Crypto companies continue pursuing US banking charters
Ripple's approval follows similar efforts by other major cryptocurrency companies seeking federal authorization to provide digital asset financial services. Circle, the issuer of the USDC stablecoin, received final OCC approval for its national trust bank in July.
Several other cryptocurrency and financial technology companies have also progressed through the regulatory application process but have not yet received final authorization.Coinbase obtained conditional approval for a national trust bank charter in April, while cryptocurrency platform Crypto.com and Stripe-owned stablecoin infrastructure company Bridge received preliminary approvals in February.
These developments reflect increasing interest among digital asset companies in establishing federally supervised entities to support custody, stablecoin infrastructure and other financial services. For cryptocurrency businesses, national trust bank charters provide a regulatory framework for managing customer assets while operating under federal banking supervision.
National trust banks differ from traditional commercial banks
Although Ripple National Trust Bank has received federal authorization, its permitted activities differ from those of a conventional commercial bank. According to the OCC, national trust banks are federally chartered financial institutions primarily responsible for holding, administering and managing assets on behalf of clients.
Unlike traditional banks, most national trust banks do not accept customer deposits or issue loans. They also generally do not provide deposit insurance through the Federal Deposit Insurance Corporation (FDIC). These distinctions are particularly relevant for cryptocurrency companies seeking banking charters, as federal trust bank approval does not automatically authorize the full range of services offered by commercial banks.
For Ripple, the newly approved institution will focus on RLUSD reserve management, collateral trustee responsibilities and digital asset custody rather than conventional deposit-taking or lending. The approval represents another step toward integrating regulated digital asset services into the US financial system, while maintaining a distinction between specialized trust banking activities and traditional commercial banking operations.
Sources:
https://cointelegraph.com/news/ripple-wins-final-us-approval-for-national-trust-bank
