Ripple National Trust Bank Receives Final OCC Approval
Ripple CEO Brad Garlinghouse announced on X that the U.S. Office of the Comptroller of the Currency (OCC) has granted final approval for Ripple National Trust Bank. This decision provides the company with a federally supervised platform for its RLUSD stablecoin and for the custody of digital assets held by enterprises.
Garlinghouse hailed the news as significant ahead of Ripple’s Swell event, framing it as evidence of successful collaboration between crypto firms and traditional banks. “The revolution isn’t happening outside the system. It’s happening from within it,” he stated, emphasizing that the new bank will deliver “real innovation, real accountability, federal oversight.”
Stuart Alderoty highlighted Ripple’s strategic decision years ago to “build within the regulatory perimeter, not around it.” He asserted that clear rules and rigorous oversight foster trust, which is essential for scaling new financial infrastructure.
Jack McDonald, SPV for Stablecoins at Ripple, described the approval as “much more than a charter on paper.” The newly approved bank is designed to manage the reserves backing RLUSD and to serve as a collateral trustee for token holders. The inclusion of regulated custody, according to McDonald, integrates federal banking supervision into infrastructure already utilized by institutions.
The Blockchain Association, a longtime member of Ripple, congratulated the company and its CEO, calling the approval a milestone in integrating digital asset innovation into the U.S. banking system and reinforcing American leadership.
Ripple initially secured conditional OCC approval for the charter in December 2025. At that time, CryptoPotato reported that Circle also received similar approval, while BitGo, Fidelity, and Paxos transitioned their state-chartered trust companies to the federal system.
Comptroller Jonathan Gould noted that each application underwent a rigorous review process, with applicants needing to meet additional conditions before becoming fully operational.
Garlinghouse used the announcement to criticize banking lobbyists, labeling their anti-competitive tactics as transparent and questioning their apprehension. He further characterized the approval as a substantial advancement for RLUSD, which he claims adheres to the highest standards for stablecoin compliance, subject to oversight from both the OCC and the New York Department of Financial Services.
Ripple’s banking relationships expanded earlier this month when New Jersey-based Cross River Bank agreed to integrate RLUSD into its Core Operating System, a platform connecting financial services with payment networks. Businesses on this platform will be able to facilitate fund transfers between U.S. dollars and RLUSD, utilizing ACH transfers and wire services through a single API. Transactions on the XRP Ledger are expected to settle within approximately three to five seconds. Currently, availability is restricted to select states.
Garlinghouse’s announcement did not specify a commencement date for the bank’s operations.
