Ripple Wins Final OCC Approval for Trust Bank Behind $2.6B RLUSD Stablecoin

What happened: The OCC granted Ripple final approval to open Ripple National Trust Bank, 10 months after conditionally approving the charter in December 2025. The bank will manage reserves backing the RLUSD stablecoin and offer fiduciary digital asset custody. Key numbers: RLUSD market cap about $2.6 billion. Why it matters: RLUSD will sit under both state and federal supervision, with NYDFS-regulated Standard Custody & Trust still issuing it. The charters remain contested: Senator Elizabeth Warren called them illegal, and the Independent Community Bankers of America sued the OCC.

The OCC granted Ripple final approval to open Ripple National Trust Bank, 10 months after conditionally approving the charter in December 2025. The bank will manage reserves backing the RLUSD stablecoin and offer fiduciary digital asset custody.

RLUSD will sit under both state and federal supervision, with NYDFS-regulated Standard Custody & Trust still issuing it. The charters remain contested: Senator Elizabeth Warren called them illegal, and the Independent Community Bankers of America sued the OCC.