Ripple says it has final US approval for national trust bank

Business · First reported 27 Oct, 02:28 · Updated 07:55

Ripple announced final approval for a federally supervised trust bank to manage RLUSD reserves and provide institutional digital-asset custody. The authorization is not a conventional commercial banking license, and one report says OCC public records still show conditional approval.

Ripple announced on October 26, 2026, that the Office of the Comptroller of the Currency had granted final approval for Ripple National Trust Bank. Conditional authorization was granted on December 12, 2025.
Once open, the bank will be authorized to manage reserves backing RLUSD and provide fiduciary digital-asset custody. The announcement does not establish that every approved service is already operating.
RLUSD issuance will remain with Standard Custody & Trust Company under New York regulation, separate from the new bank’s federally supervised reserve-management and custody functions.
The charter does not authorize conventional retail deposit accounts or lending. RLUSD has approximately $2.5 billion in market capitalization and is backed by dollar deposits, US government securities and other cash equivalents.
TokenPost reports that OCC public charter records still list only conditional approval, leaving a discrepancy between the public record and Ripple’s announcement.