Ripple wins final OCC approval for its national trust bank

Ripple now has a federal bank charter. The Office of the Comptroller of the Currency (OCC) granted final approval for Ripple National Trust Bank (RNTB), a federally supervised national trust bank, Ripple said in a release dated Oct. 26, 2026.

"For years, we've said crypto and banks work better together. Final approval for Ripple National Trust Bank is what that looks like in practice," CEO Brad Garlinghouse said in the release.

What the bank may do

According to Ripple, RNTB's approved activities include:

• managing the segregated reserves supporting Ripple USD (RLUSD),
• acting as collateral trustee of those reserves for RLUSD holders,
• providing fiduciary digital asset custody services.

RLUSD itself 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. RNTB adds federal OCC supervision on top, Ripple said.

From application to charter

Ripple first applied for the license in July 2025, and the OCC gave conditional approval that December, CoinDesk reported. RLUSD, launched in December 2024, has grown to a market cap of about $2.5 billion. BNY is the primary reserve custodian, and the token is backed by U.S. dollar deposits, U.S. government securities and other cash equivalents, according to Ripple.

Ripple said it will keep working with the OCC, NYDFS and other regulators as RNTB begins operations and as the U.S. implements the GENIUS Act framework.