Ripple wins final OCC approval for Ripple National Trust Bank, CEO says
In brief
- Brad Garlinghouse announced final OCC approval for Ripple National Trust Bank on X late Monday.
- Ripple applied in July 2025 and received conditional approval that December, per CoinDesk.
- Ripple National Trust Bank will manage RLUSD reserves, act as trustee and offer regulated custody.
- RLUSD remains issued by Ripple's New York-regulated Standard Custody & Trust Company.
From application to sign-off
This didn't happen overnight. Ripple first applied for the banking license in July 2025, and the OCC granted conditional approval that December before signing off fully this week, CoinDesk reported. The final step comes via Garlinghouse's post on X.
What the bank will actually do
According to CoinDesk, RNTB will manage the reserves backing RLUSD and act as trustee for those reserves. It'll also offer regulated custody services for digital assets held for large companies (the institutional side of the business, not retail).
The issuer isn't changing.
RLUSD will still be issued by Ripple's New York-regulated unit, Standard Custody & Trust Company. With the new bank in place, the stablecoin now has both state and federal regulators overseeing parts of its setup, CoinDesk reported.
RLUSD debuted in December 2024 and has grown to a market value of about $2.5 billion, which CoinDesk said puts it among the world's top 50 stablecoins. It's used in Ripple's payments business and as collateral on Ripple Prime. The reserves are U.S. dollar deposits, U.S. government securities and other cash-like assets, with BNY holding most of them.
Ripple also uses XRP (which CoinDesk described as the world's fifth-largest digital asset) to facilitate cross-border transactions.
The GENIUS Act backdrop
What happens once the bank is live? Ripple said it'll keep working with the OCC, New York regulators and others as the bank starts operating, especially as the U.S. rolls out stablecoin rules under the GENIUS Act.
CoinDesk framed the approval as consistent with Garlinghouse's long-running pitch that crypto companies should build products that banks and big institutions can use.
Frequently asked questions
What will Ripple National Trust Bank do?
According to CoinDesk, Ripple National Trust Bank will manage the reserves backing Ripple's RLUSD stablecoin and act as trustee for those reserves. It will also offer regulated custody services for digital assets held for large companies.
Who issues RLUSD after the OCC approval?
RLUSD will still be issued by Ripple's New York-regulated unit, Standard Custody & Trust Company. CoinDesk reported that with the new bank, RLUSD now has both state and federal regulators overseeing parts of its setup.
How long did Ripple's bank approval take?
Ripple first applied for the banking license in July 2025, according to CoinDesk. The OCC granted conditional approval that December, and Garlinghouse announced the final approval on X late Monday.
