Ripple says OCC gives final approval to trust bank
Ripple says the OCC has given its national trust bank final approval, adding federal oversight around RLUSD reserves while issuance stays with its New York trust company.
Ripple says it has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank, bringing its planned trust bank to the end of the chartering process. The company announced the news on Oct. 26, following conditional approval in December 2025. The OCC’s [charter record](https://apps.occ.gov/CAS/home/details?FilingID=RjzoD2gxmYOv&FilingSubtypeID=1093&FilingTypeID=2) lists the application as consummated and effective on Oct. 26. Ripple’s [announcement](https://ripple.com/ripple-press/ripple-receives-final-occ-approval-to-establish-national-trust-bank/) says the bank will support its RLUSD stablecoin and offer digital asset custody.
What will Ripple National Trust Bank do?
Ripple says the bank is approved to manage the separate reserves backing RLUSD, act as trustee for those reserves on behalf of holders, and provide fiduciary digital asset custody. Fiduciary means the bank must manage assets in the interests of the people it serves.
RLUSD will still be issued by Standard Custody & Trust Company, Ripple’s limited-purpose trust company regulated by New York’s Department of Financial Services. The new bank adds federal OCC supervision around the reserves and custody services; it does not take over issuing the stablecoin.
Does the approval mean the bank is open?
The approval clears the chartering process, but Ripple has not given an opening date. Its announcement says the bank will provide custody services “upon opening,” so customers cannot assume those services are available now.
A national trust bank focuses on holding and managing assets for clients. The Block reported that this type of charter does not allow deposit-taking or lending. Ripple’s announcement does not say that the bank will offer checking accounts or loans.
What happens next for RLUSD?
Ripple says RLUSD’s reserves will be managed by the new bank, while the New York-regulated company continues to issue the stablecoin. The arrangement gives the reserve and custody work a federal supervisor alongside the state regulator’s oversight of the issuer.
The OCC first gave Ripple conditional approval on Dec. 12, 2025. Its public record now marks the charter effective on Oct. 26, 2026. Ripple says it will continue working with the OCC and New York regulators as the bank begins operations. It has not announced when that will happen.