Ripple Clears Final OCC Hurdle for National Trust Bank

Ripple's new federally supervised bank is designed to manage the reserves behind RLUSD and act as collateral trustee for token holders. Ripple CEO Brad Garlinghouse announced on X that the US Office of the Comptroller of the Currency (OCC) has granted final approval for Ripple National Trust Bank. The decision gives the company a federally supervised platform for its RLUSD stablecoin and for custody of digital assets held by enterprises. What the Final Approval Covers Garlinghouse called it big news heading into Ripple’s Swell event and presented it as proof that crypto firms and banks work better together. “The revolution isn’t happening outside the system. It’s happening from within it,” the executive wrote, adding that the bank delivers “real innovation, real accountability, federal oversight.” Stuart Alderoty pointed to a decision Ripple made years ago to “build within the regulatory perimeter, not around it.” Clear rules and rigorous oversight create trust, he added, and trust is what lets new financial infrastructure scale. Jack McDonald, SPV for Stablecoins at Ripple, posted that the approval is “much more than a charter on paper.” The new bank, according to the post, is des...