The Office of the Comptroller of the Currency granted final approval on October 26, 2026, for Ripple to charter Ripple National Trust Bank in New York. The new entity will manage segregated reserves backing the RLUSD stablecoin and offer fiduciary custody services to institutions. This step follows conditional approval issued in December 2025 after Ripple submitted its application in July 2025.
Ripple National Trust Bank Charter Details and Approved Activities
The charter, numbered 25364, authorizes Ripple National Trust Bank to act as collateral trustee for RLUSD reserves and to provide digital asset custody under fiduciary standards. The bank remains restricted to trust activities and cannot accept deposits, extend loans, or obtain FDIC insurance. RLUSD issuance continues through Standard Custody & Trust Company, while Bank of New York Mellon retains its role as primary reserve custodian with monthly third-party attestations.
RLUSD, launched in December 2024, now holds approximately $2.5 billion in market capitalization. It serves as settlement asset in Ripple’s payments network and as collateral within Ripple Prime. Backing consists of USD deposits, U.S. government securities, and cash equivalents held under the GENIUS Act framework for stablecoins.
Institutions seeking regulated custody for digital assets gain a new federally supervised option once the bank opens. The structure separates issuance, reserve management, and primary custody across three regulated entities, reducing single-point operational risk compared with earlier stablecoin models.
Regulatory Path, Timeline, and Institutional Implications
Ripple applied under the OCC’s national trust bank framework in July 2025 and received conditional approval in December 2025. Final approval on October 26, 2026, clears the path for operations once remaining pre-opening conditions are met. Ripple will continue coordination with the OCC, the New York Department of Financial Services, and other regulators.
Ripple CEO Brad Garlinghouse stated that final approval demonstrates how crypto and banks operate together in practice. The charter directly supports custody needs for RLUSD holders and expands fiduciary services for institutional digital asset portfolios.
Market participants can reference the detailed RLUSD adoption metrics published earlier. The new trust bank adds an additional layer of federal oversight without altering the existing reserve custody or issuance arrangements already in place.
Remaining Conditions and Expected Launch Timeline
Ripple National Trust Bank must satisfy any outstanding pre-opening requirements before it can commence custody services. No specific opening date has been announced. The OCC will monitor compliance with the limited trust powers outlined in the charter.
Once operational, the bank can accept fiduciary appointments from institutions that require segregated, federally supervised custody of digital assets tied to RLUSD. Ripple plans to publish updates on regulatory milestones through its standard channels as conditions are cleared.
Frequently asked questions
What activities can Ripple National Trust Bank perform?
The bank is authorized to manage segregated RLUSD reserves, act as collateral trustee, and provide fiduciary digital asset custody to institutions. It cannot accept deposits or make loans.
How does the new bank affect RLUSD issuance and reserves?
RLUSD issuance stays with Standard Custody & Trust Company. Bank of New York Mellon continues as primary reserve custodian, with monthly attestations. The trust bank adds oversight of those reserves.
When will Ripple National Trust Bank begin operations?
The bank must complete remaining pre-opening conditions set by the OCC. No opening date has been announced, and custody services become available only after launch.
Is Ripple National Trust Bank FDIC insured?
No. The charter limits the bank to fiduciary and trust activities, so it does not accept deposits and will not carry FDIC insurance.
By YasTech Editorial
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