The Office of the Comptroller of the Currency (OCC) granted final approval on October 26, 2026, for Ripple to charter Ripple National Trust Bank (RNTB), a federally supervised national trust bank. The approval culminates the organizational process that began with conditional OCC approval in December 2025 and establishes federal supervision over the reserves backing Ripple USD (RLUSD), the company’s stablecoin launched in December 2024.
- RLUSD market cap: $2.5 billion
- Launch date: December 2024
- Reserve custodian: BNY Mellon
- Existing NYDFS license: Standard Custody & Trust Company (SCTC)
RNTB will manage segregated reserves supporting RLUSD, serve as collateral trustee for the stablecoin’s reserves, and provide fiduciary digital asset custody services to enterprises. The charter adds federal OCC oversight to the existing New York Department of Financial Services (NYDFS) regulation of RLUSD issuance through Standard Custody & Trust Company. BNY Mellon continues as the primary reserve custodian, with Ripple publishing monthly independent third-party attestations covering the stablecoin’s circulating supply and reserve assets, which are fully backed by U.S. dollar deposits, government securities, and cash equivalents.
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. We’ve spent over a decade building regulated financial infrastructure that institutions can actually use at scale. A national trust charter gives us an even stronger foundation for RLUSD and the institutional products we’re building across payments, custody and capital markets.
– Brad Garlinghouse, CEO, Ripple
The approval arrives as RLUSD gains traction across institutional payment and collateral use cases within Ripple Prime, the company’s prime brokerage offering. Beyond supporting the stablecoin, RNTB will operate as a federally supervised provider of digital asset custody services as enterprises increasingly integrate digital assets into payments, trading, and treasury operations. Ripple will continue coordinating with the OCC, NYDFS, and other regulators as RNTB begins operations and as the United States implements the regulatory framework established by the GENIUS Act. Founded in 2012, Ripple operates with over 85 licenses and provides payments, custody, prime brokerage, and treasury management solutions across traditional and digital finance.
Brad Garlinghouse, CEO of Ripple. Source: LinkedIn
