OCC Gives Ripple Final Approval for National Trust Bank Tied to RLUSD
Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) to establish its own national trust bank, which will manage the reserves backing its RLUSD stablecoin. The decision completes a regulatory process that began with the OCC's conditional approval last December, according to Coin Bureau.
The planned institution, Ripple National Trust Bank, is also expected to offer cryptocurrency custody services once it opens. The approval marks a significant regulatory development for Ripple as it builds out the banking infrastructure associated with RLUSD.
Ripple National Trust Bank to Manage RLUSD Reserves
A central role of Ripple National Trust Bank will be managing the reserves behind RLUSD, Ripple's stablecoin. Reserve management is directly relevant to the stablecoin's backing, making the bank's intended responsibilities an important part of the announcement.
The OCC's final approval follows an earlier conditional approval granted last December. The latest decision completes that approval process, according to the information shared by Coin Bureau. The post does not specify the bank's opening date or provide additional details about its operational arrangements.
Ripple National Trust Bank is also set to provide crypto custody services once it begins operating. Custody services involve holding and safeguarding digital assets, although the source does not detail which cryptocurrencies the institution will support or the specific terms under which the services will be offered.
Brad Garlinghouse Says Crypto and Banks Work Better Together
Ripple CEO Brad Garlinghouse welcomed the broader relationship between the cryptocurrency industry and traditional banking, saying that "crypto and banks work better together."
His comment reflects Ripple's stated position on cooperation between digital-asset businesses and the banking sector. The planned trust bank's responsibilities, including managing RLUSD reserves and offering crypto custody, place the institution at the intersection of those two areas.
The announcement does not provide further details about the bank's launch schedule, its full range of services, or any additional regulatory conditions. It confirms that Ripple has received the OCC's final approval following the conditional decision last December.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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