Ripple announces final OCC approval for its national trust bank

An announcement separate from conditional approval

In a press release dated October 26, 2026, Ripple says it has received final approval from the Office of the Comptroller of the Currency for Ripple National Trust Bank. This national trust bank is intended to provide a federal framework for certain group activities involving RLUSD and digital asset custody. The company presents the decision as the conclusion of the organizational phase that followed conditional authorization in December 2025. The announcement of this final step is therefore attributed to Ripple.

The OCC’s public letter dated December 12, 2025, concerned preliminary conditional approval for the proposed New York institution, under charter number 25364. It made final authorization to begin business contingent on meeting preopening requirements. This document must not be presented as a final decision dated October. The recent release does not set an opening date; it says Ripple will continue working with the authorities as operations begin.

Separate roles around RLUSD reserves

According to Ripple, the approved activities include managing the segregated reserves backing RLUSD, acting as collateral trustee for holders and providing fiduciary digital asset custody. The national bank does not replace the token’s issuer. Standard Custody & Trust Company, the group’s limited purpose trust company regulated by the New York Department of Financial Services, will continue issuing RLUSD. This arrangement distinguishes obligations related to issuance from those concerning reserves and their administration.

The plan described in the OCC’s initial letter already provided for services to Standard Custody & Trust Company, as well as cryptocurrency custody for affiliates and institutional clients outside the group. The October release also states that BNY remains RLUSD’s primary reserve custodian. Adding federal supervision therefore does not mean that the new bank replaces every participant or that the stablecoin automatically changes issuers.

A fiduciary mandate with specific requirements

The conditional letter limited operations to those of a trust company and related activities covered by its business plan. It stated that the institution would not be an FDIC-insured depository institution. It also imposed a minimum of $11.7 million in tier 1 capital, with a portion held in eligible liquid assets, plus a separate reserve covering 180 days of operating expenses. These figures describe conditions set in December 2025, rather than a report of the capital currently held.

The same document required a written determination of no objection before any significant business plan change during the organizational phase and the first three years of operation. It also required engaging an independent external auditor and submitting information systems for the regulator’s review before final authorization. The announced approval should therefore not be turned into a promise of returns or a public guarantee of RLUSD. The change presented concerns the organization and supervision of fiduciary services; the release describes no interest-bearing deposit product offered by this bank.