The U.S. Office of the Comptroller of the Currency (OCC) has given final approval to Ripple National Trust Bank (RNTB), allowing Ripple to move forward with its plans to operate a federally supervised banking institution.

Ripple CEO Brad Garlinghouse announced the decision on X late Monday. The company, which develops blockchain-based financial services for cross-border payments and asset tokenization, first applied for a national trust bank charter in July 2025. It received conditional approval in December before obtaining final clearance this week.

The authorization marks another step in the integration of cryptocurrency businesses with the traditional financial system. Garlinghouse has repeatedly advocated cooperation between banks and digital asset companies, arguing that both sectors can benefit from developing services for institutional customers.

He said the approval provides Ripple with a stronger regulatory foundation for RLUSD and its institutional products across payments, digital asset custody, and capital markets.

Ripple National Trust Bank to Oversee RLUSD Reserves

RNTB will manage the reserves backing RLUSD, Ripple’s U.S. dollar-pegged stablecoin, and serve as a trustee for those assets. It will also offer regulated custody services for institutional clients holding digital assets for payments, trading, and treasury management.

RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary. The new bank adds federal oversight to the stablecoin’s existing regulatory structure, which includes state-level supervision.

Since launching in December 2024, RLUSD has reportedly reached a market capitalization of around $2.5 billion, placing it among the world’s 50 largest stablecoins. It is used in Ripple’s payment operations and as collateral on Ripple Prime.

The stablecoin is backed by U.S. dollar deposits, government securities, and other cash-equivalent assets, with BNY holding most of the reserves. XRP also remains part of Ripple’s wider payment ecosystem, facilitating cross-border transactions.

Ripple Advances Amid Changing U.S. Crypto Regulations

Ripple said it will continue working with the OCC, New York regulators, and other authorities as the bank prepares to begin operations.

The approval comes as U.S. regulators move forward with implementing stablecoin requirements under the GENIUS Act. The framework is expected to establish standards for reserve management, compliance, and stablecoin operations.

With the charter now finalized, Ripple is positioned to expand its regulated financial services and strengthen its institutional infrastructure. The development could support further growth in stablecoin management, digital asset custody, and blockchain-powered payments while deepening the company’s ties with traditional financial institutions.