Ripple received final OCC approval to charter Ripple National Trust Bank, which will manage the reserves backing its RLUSD stablecoin, act as collateral trustee for RLUSD holders, and offer institutions fiduciary custody of digital assets once it opens. RLUSD, which launched in December 2024 and now has a market cap of $2.5 billion, will still be issued by Ripple’s New York-regulated trust company, so the federal charter adds OCC oversight on top of state supervision instead of replacing it. Ripple and Circle both won conditional OCC approval for national trust banks in December 2025, and Circle received its final approval in July.
