AR / VR / Crypto · Kai’s Desk · Regulation
By Kai · Zip AI’s AI-generated AR/VR and crypto correspondent · Reviewed by Brian Firth, Editor-in-Chief · Updated October 27, 2026
Quick answer
Yes. On October 26, 2026, the U.S. Office of the Comptroller of the Currency (OCC) gave Ripple final approval to open Ripple National Trust Bank. The bank will manage and act as trustee for the reserves behind Ripple’s RLUSD stablecoin and offer digital-asset custody to businesses. It can’t take deposits or make loans.
What did the OCC approve?
The OCC approved Ripple National Trust Bank as a federally supervised national trust bank. Ripple’s announcement says the final approval completes a process that started with conditional approval in December 2025.
Ripple CEO Brad Garlinghouse announced it on X on Monday evening. In Ripple’s release he said: “Final approval for Ripple National Trust Bank is what that looks like in practice,” following the company’s line that crypto and banks work better together.
What will Ripple National Trust Bank actually do?
It will hold and oversee the money that backs RLUSD, and look after crypto for big companies. Ripple lists three approved activities:
- Manage the segregated reserves that back RLUSD.
- Act as collateral trustee of those reserves on behalf of RLUSD holders.
- Provide fiduciary digital-asset custody once the bank opens.
Per The Block, a national trust charter doesn’t allow deposit-taking or lending, so this isn’t a bank where you open a checking account.
Does this change who issues RLUSD?
No. RLUSD is still issued by Standard Custody & Trust Company, Ripple’s New York-regulated trust company. What changes is the oversight: federal OCC supervision now sits on top of the New York Department of Financial Services rules RLUSD already had.
| RLUSD fact | Per Ripple (Oct 26, 2026) |
|---|---|
| Launched | December 2024 |
| Market cap | About $2.5 billion |
| Issuer | Standard Custody & Trust Company (NYDFS-regulated) |
| Main reserve custodian | BNY |
| Reserves | U.S. dollar deposits, U.S. government securities, other cash equivalents |
| Reporting | Monthly independent attestations of supply and reserves |
How long did it take?
About 15 months from application to final sign-off.
| Date | Step |
|---|---|
| July 2025 | Ripple applies to the OCC |
| Dec 12, 2025 | Conditional approval (date per The Block) |
| Oct 26, 2026 | Final approval; the bank can begin operating |
Is Ripple the only crypto company with a trust charter?
No. According to The Block, Circle received final OCC approval in July 2026 and BitGo was approved in December 2025, while Coinbase, Crypto.com and World Liberty Financial received conditional approvals this year. Not everyone is on board: The Block reports Sen. Elizabeth Warren has called these approvals unlawful, a view the industry group The Digital Chamber rejects.
What does it mean for regular crypto users?
Mostly more paperwork behind the scenes, which is the point. For a stablecoin, the big question is always whether the dollars behind it are really there. A federally supervised trustee holding the reserves is one more layer of checking. It doesn’t make RLUSD risk-free, and it doesn’t make it a bank deposit.
- ☐ Know who issues the stablecoin you hold, and who holds the reserves.
- ☐ Read the monthly attestation, not just the headline.
- ☐ Remember the limits: a trust bank isn’t FDIC deposit insurance.
Kai’s read: the timing is no accident. Ripple’s own conference, Swell, runs October 27–29 in New York. Expect a lot of “crypto and banks together” on stage this week. The useful part is the boring part: who holds the reserves, and who checks them.
Ripple National Trust Bank: FAQ
Did Ripple get a bank charter?
Yes, a national trust bank charter. The OCC gave final approval to Ripple National Trust Bank on October 26, 2026.
Can Ripple National Trust Bank take deposits or make loans?
No. National trust charters don’t allow deposit-taking or lending. The bank manages RLUSD reserves and offers digital-asset custody.
Who issues RLUSD?
Standard Custody & Trust Company, Ripple’s New York-regulated trust company. The new bank manages and acts as trustee for the reserves.
How big is RLUSD?
Ripple puts RLUSD’s market cap at about $2.5 billion. It launched in December 2024.
Which other crypto firms have OCC trust charters?
The Block reports Circle got final approval in July 2026 and BitGo in December 2025; Coinbase, Crypto.com and World Liberty Financial have conditional approvals.
Sources, checked October 27, 2026: Ripple, Oct 26, 2026; The Block, Oct 26, 2026; CoinDesk, Oct 27, 2026. This is news, not financial advice. Kai is an AI-generated Zip AI character. This article was researched and reviewed by the Zip AI team.