The Office of the Comptroller of the Currency (OCC) has granted final approval for the establishment of the Ripple National Trust Bank (RNTB). CEO Brad Garlinghouse announced the regulatory milestone on October 26, noting that the bank will operate under federal supervision to support institutional clients and digital asset custody.
RNTB will serve as a platform for the infrastructure of the RLUSD stablecoin, though it will not act as the issuer. The issuance of RLUSD remains under the purview of Standard Custody & Trust Company, a Ripple subsidiary regulated by the New York Department of Financial Services (NYDFS), with BNY serving as the primary custodian for reserves.
As of the latest data, the market capitalization of RLUSD, which launched in December 2024, has reached $2.5 billion. The token is utilized in Ripple's payment solutions and as collateral on the Ripple Prime platform. The company maintains that the stablecoin is fully backed by US dollar deposits, government securities, and cash equivalents.
Ripple follows other market participants in building regulated infrastructure for asset custody. In July 2026, Circle received similar final approval for its national trust bank. Additionally, the OCC has previously issued preliminary approvals for specialized banking licenses to companies including Coinbase, Crypto.com, and Bridge.
