Ripple says OCC cleared national trust bank for RLUSD
Ripple says the OCC gave its trust bank final approval on Oct. 26, putting RLUSD reserve management under federal supervision while issuance stays in New York.
The Blockheight Editors··2 min read
Ripple said on Oct. 26 that the Office of the Comptroller of the Currency had granted final approval for Ripple National Trust Bank, according to the company’s approval announcement. The bank is set to manage reserves backing RLUSD and provide fiduciary digital asset custody, while RLUSD issuance remains with Ripple’s New York-regulated Standard Custody & Trust Company.
What will the trust bank do for RLUSD?
Ripple said the bank is authorized to manage RLUSD’s segregated reserves and act as their collateral trustee for holders. The OCC’s December 2025 conditional approval letter described the same planned reserve and trustee services, plus fiduciary crypto custody for institutional customers.
The structure adds federal OCC supervision to the reserve and custody functions, while the New York Department of Financial Services continues to regulate the entity issuing RLUSD. The Block reported that the trust charter does not make Ripple a full-service commercial bank.
Is Ripple issuing RLUSD through the new bank?
No. Ripple said Standard Custody & Trust Company will continue issuing the stablecoin; the new bank is not identified as its issuer. The OCC’s December 2025 decision letter also said the proposed bank did not plan to issue stablecoins.
Ripple said RLUSD launched in December 2024 and had a $2.5 billion market capitalization at the time of the approval announcement. The company said BNY is the stablecoin’s primary reserve custodian.
When will the bank begin operating?
Ripple did not give an opening date in its announcement. The publicly available OCC letter is dated Dec. 12, 2025, and grants preliminary conditional approval; it says final approval to commence business depends on meeting pre-opening requirements.
Ripple said it will continue working with the OCC, NYDFS and other regulators as the bank begins operations. The opening date and a new OCC decision document confirming the final approval were not specified in the company’s announcement.
Source material
- approval announcement — ripple.com
- December 2025 decision letter — occ.treas.gov