Ripple National Trust Bank receives final OCC approval for crypto custody
The federal charter covers RLUSD reserve management and enterprise crypto custody, months after a conditional green light in December
Ripple now has a federally chartered bank. The Office of the Comptroller of the Currency has granted final approval for Ripple National Trust Bank, the entity that will handle reserves for the RLUSD stablecoin and offer crypto custody to enterprise clients.
The final sign-off completes a process that began with a conditional approval on December 12, 2025.
What the OCC actually approved
Ripple National Trust Bank, or RNTB, is a national trust bank based in New York. Its proposed charter number is 25364.
The charter does two main jobs. First, it lets the bank manage the reserves backing RLUSD, Ripple’s US dollar stablecoin. Second, it lets the bank provide custody and fiduciary services to enterprise customers holding digital assets.
Under the terms of its approval, RNTB’s operations are limited to fiduciary activities. It will not take deposits, and it will not make loans.
From conditional to final
The December approval was conditional. As of late 2025, full authorization was expected by March 2026.
Ripple was not alone in that December batch. On the same day, the OCC also granted conditional approvals to other digital asset firms, including Circle, Paxos and BitGo.
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Circle’s proposed entity is called First National Digital Currency Bank.
Today, RLUSD is issued by Standard Custody & Trust Company, LLC, which is regulated by the New York Department of Financial Services. With RNTB in place, the stablecoin’s reserve arrangements now sit under oversight from both the OCC and the NYDFS.
Why the GENIUS Act changed the math
The approvals followed the enactment of the GENIUS Act in July 2025. That law set up a clear federal framework for US stablecoins.
Ripple CEO Brad Garlinghouse has said the goal is for RLUSD to be the most transparent and responsibly managed stablecoin on the market.
What this means for Ripple and the stablecoin market
Dual oversight from the OCC and the NYDFS is expected to boost confidence in RLUSD.
The charter also gives Ripple a second line of business beyond its own stablecoin. That puts Ripple in more direct competition with firms like BitGo and Paxos, which also received conditional charters. It also sharpens the rivalry with Circle, whose USDC has long been the compliance-friendly choice for institutions.
The fiduciary-only scope means RNTB cannot use its charter to build a lending business or gather deposits, so the bank’s growth depends on custody and reserve management demand.