OCC Approves Ripple Bank Backing $2.6B RLUSD — SkimNews
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- OCC granted Ripple final approval to establish Ripple National Trust Bank, 10 months after conditionally approving the charter in December 2025.
- Ripple National Trust Bank will, once open, manage segregated reserves backing RLUSD, act as collateral trustee for those reserves for RLUSD holders, and provide fiduciary digital-asset custody services to enterprises.
- RLUSD will remain issued by Standard Custody & Trust Company, a New York Department of Financial Services-regulated limited-purpose trust company, so the stablecoin will sit under both state and federal supervision.
- RLUSD launched in December 2024 and has a market capitalization of about $2.6 billion, according to CoinGecko; Ripple says it is used across its payments network and as collateral in Ripple Prime, while BNY is the primary reserve custodian.
- XRP rose 0.5% over the past 24 hours to $1.29, one of only two top-10 coins by market capitalization to gain on the day alongside Zcash, according to CoinGecko.
- Elizabeth Warren said OCC approvals for Ripple and Coinbase violated the National Bank Act and described the companies as crypto banks seeking to evade fundamental bank safeguards; the Independent Community Bankers of America sued the OCC earlier this month, arguing the charters bypass capital requirements, consolidated supervision and FDIC insurance.
- Digital Chamber urged the OCC to defend the charter approvals and continue developing clear supervisory expectations for trust banks, while Ripple said it would work with the OCC, NYDFS and other regulators as the bank begins operations and the U.S. implements the GENIUS Act stablecoin framework.
Why it matters: Once it opens, the bank gives RLUSD holders a federally supervised collateral trustee and enterprises a federal custody platform for a stablecoin with about $2.6 billion in market capitalization, while Standard Custody remains its NYDFS-regulated issuer. Ripple also gains a federal banking platform as the Independent Community Bankers of America litigates the broader charter framework.
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