Ripple National Trust Bank receives final OCC approval for crypto custody

On October 26, 2026, the Office of the Comptroller of the Currency granted final approval for Ripple National Trust Bank, completing a process initiated in December 2025. Operating under dual oversight from federal regulators and the New York Department of Financial Services, the New York-based trust bank will manage reserves for Ripple's RLUSD stablecoin and provide fiduciary crypto custody to enterprise clients, while remaining barred from offering traditional loans or taking deposits.

OCC charter approval for Ripple National Trust Bank

• ▪The OCC previously granted conditional approval for Ripple National Trust Bank
• ▪The Office of the Comptroller of the Currency granted final approval for New York-based Ripple National Trust Bank on October 26, 2026

Authorized services and operational limits of the charter

• ▪Under the terms of its OCC approval, Ripple National Trust Bank is restricted to fiduciary operations and cannot accept deposits or grant loans
• ▪Ripple National Trust Bank's national charter authorizes the institution to provide digital asset custody and fiduciary services to enterprise clients

Reserve management and regulatory oversight of RLUSD

• ▪Following OCC approval, reserve arrangements for Ripple's RLUSD stablecoin fall under oversight from both the Office of the Comptroller of the Currency and the New York Department of Financial Services
• ▪Standard Custody & Trust Company, LLC issues the RLUSD stablecoin under New York Department of Financial Services regulation
• ▪Ripple National Trust Bank is chartered to manage the dollar reserves backing Ripple's RLUSD stablecoin

Competition with other OCC-approved trust banks

• ▪The Office of the Comptroller of the Currency granted conditional trust bank charters to Circle, Paxos, and BitGo on December 12, 2025
• ▪Ripple National Trust Bank's fiduciary charter places Ripple in direct competition for enterprise crypto custody against BitGo, Paxos, and Circle

GENIUS Act regulatory framework for stablecoins

• ▪The United States enacted the GENIUS Act in July 2025 to establish a federal framework for stablecoins
• ▪Ripple CEO Brad Garlinghouse stated that the GENIUS Act's regulatory framework, enacted in July 2025, supports Ripple's goal of operating RLUSD as a transparent stablecoin