Ripple has received final approval to establish a national trust bank in the U.S., gaining the authority to manage RLUSD reserves under federal oversight and provide digital asset custody services to companies.
According to The Block, the Office of the Comptroller of the Currency (OCC) has granted final approval to Ripple’s application. After applying in July 2025, the company received conditional approval on December 12, 2025; the latest decision marks another major milestone in the process.
Ripple CEO Brad Garlinghouse said the new bank will be a federally supervised institution that supports RLUSD and serves institutional clients. Reiterating his view that crypto and banks work better together, Garlinghouse said the approval brings innovation and accountability together.
What Services Will Ripple’s New Bank Offer?
Ripple National Trust Bank will be able to manage reserves set aside for the dollar-backed stablecoin RLUSD and serve as collateral agent for token holders in connection with those reserves. Its authorized activities will also include custody of institutional clients’ digital assets.
National trust bank status covers specific activities, such as custody and asset management, unlike full-service commercial banks. As a result, Ripple’s new bank will not be able to accept deposits or issue loans.
Federal and State-Level Oversight for RLUSD
Standard Custody & Trust Company, which is supervised by the New York Department of Financial Services (NYDFS), will continue to issue RLUSD. The OCC’s federal oversight will extend to reserve management and custody, while the stablecoin’s existing state-level oversight will also continue.
According to Ripple, RLUSD, launched in December 2024, has reached a market capitalization of $2.5 billion. The stablecoin is used in the company’s payment infrastructure and as collateral at Ripple Prime.
Banking Powers for Crypto Companies Under Debate
Ripple is not the only crypto company to receive approval from the OCC. Circle received final approval in July to bring USDC reserves under federal oversight, while BitGo received approval in December 2025. Coinbase, Crypto.com, and World Liberty Financial were among the companies granted conditional approval this year.
Senator Elizabeth Warren argued that these authorizations could violate the National Bank Act and pose a risk to the financial system. Industry group The Digital Chamber countered the criticism, saying the powers are limited and that companies are voluntarily submitting to federal oversight.
Not investment advice.