Ripple CEO Brad Garlinghouse has announced that the Office of the Comptroller of the Currency (OCC) has granted final approval to Ripple National Trust Bank (RNTB), allowing the company to operate a specialized banking institution under U.S. federal supervision.
The decision represents a major development for Ripple, a fintech company focused on blockchain-powered cross-border payments and asset tokenization. It also signals another step toward integrating cryptocurrency businesses into the regulated U.S. financial system.
Garlinghouse confirmed the approval in a post on X late Monday. Ripple first submitted its application for a national trust bank charter in July 2025, received conditional approval in December, and has now secured final authorization.
The move supports Garlinghouse’s long-standing view that cryptocurrency firms and traditional banks can work together to deliver financial services for institutional clients.
In a company press release, Garlinghouse said the approval demonstrates how cooperation between the banking and crypto industries can work in practice. He noted that Ripple has spent more than a decade building regulated financial infrastructure and said the national trust charter would strengthen the foundation for RLUSD and its institutional offerings across payments, custody, and capital markets.
Ripple National Trust Bank to Manage RLUSD Reserves
RNTB will be responsible for managing the reserves backing Ripple’s RLUSD stablecoin. These reserves consist of cash and other financial assets intended to support the token’s value relative to the U.S. dollar.
The institution will also act as a trustee for those reserves and provide regulated digital asset custody services. These offerings are designed to help large organizations securely hold digital assets while using cryptocurrencies for payments, trading, and treasury operations.
RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary. The new national trust bank adds another level of regulatory supervision, bringing federal oversight into parts of the stablecoin’s operating structure alongside existing state regulation.
Since launching in December 2024, RLUSD has reportedly reached a market capitalization of approximately $2.5 billion, placing it among the world’s 50 largest stablecoins. The token supports Ripple’s payment services and is also used as collateral on Ripple Prime.
RLUSD is backed by U.S. dollar deposits, government securities, and other cash-equivalent assets. BNY holds most of these reserves. XRP, meanwhile, remains a key component of Ripple’s broader cross-border payment ecosystem.
Ripple Expands Its Regulatory Footprint as U.S. Stablecoin Rules Evolve
Ripple said it will continue working with the OCC, New York regulators, and other authorities as the bank moves toward operations.
The company’s regulatory efforts come as the United States prepares to implement stablecoin requirements under the GENIUS Act. The legislation is expected to influence how stablecoin issuers manage reserves, meet compliance obligations, and operate within the financial system.
With final approval secured, Ripple has strengthened its position in regulated financial services and expanded the framework supporting its institutional products. The development could help the company advance its work in stablecoin management, digital asset custody, and cross-border payments while deepening its connections with traditional banking institutions.
