Short answer: On October 26, 2026, the US Office of the Comptroller of the Currency (OCC) gave final approval for Ripple National Trust Bank (RNTB), Ripple's federally chartered trust bank. Conditional approval came in December 2025 after an application filed in July 2025. RNTB will provide fiduciary custody of digital assets and manage the segregated reserves behind Ripple's RLUSD stablecoin, acting as collateral trustee. As a national trust bank it cannot accept deposits or make loans. RLUSD itself continues to be issued by Ripple's New York trust company, Standard Custody & Trust, with BNY as primary custodian.
What does the charter allow Ripple to do?
A national trust bank is a narrow kind of bank. It can hold assets for clients in a fiduciary capacity, act as trustee and provide custody, all under direct supervision of the OCC, which also supervises the largest US banks. It cannot run checking accounts, take insured deposits or lend. For a crypto company the value is regulatory standing: a federal charter lets a single entity serve clients across all states without separate state trust licences, and it puts the reserves of a stablecoin under a federal supervisor.
According to Ripple's announcement and FinTech Futures, the bank will focus on custody of digital assets and the RLUSD reserves. It still has to open and build out its operations before serving clients, and it will remain under ongoing OCC supervision.
Key facts
| Item | Detail |
|---|---|
| Final approval | OCC, October 26, 2026 |
| Timeline | Application July 2025; conditional approval December 2025 |
| Entity | Ripple National Trust Bank (RNTB) |
| Activities | Fiduciary custody of digital assets; collateral trustee for RLUSD reserves |
| Cannot | Take deposits or make loans |
| RLUSD issuer | Unchanged: Standard Custody & Trust Company (New York), BNY as primary custodian |
| Peers | Circle's First National Digital Currency Bank received final approval in July 2026 |
Why are crypto firms getting bank charters now?
Two things changed. First, the GENIUS Act created a federal path for stablecoin issuers and gave the OCC a central role; its final rule, published on October 21, is covered in OCC finalizes GENIUS Act stablecoin rule. Second, banks and crypto firms are converging from both sides: banks are launching coins such as HSBC's RedCoin, while crypto issuers seek bank-grade supervision to reassure institutions.
What it means for XRP and RLUSD users
- Nothing changes overnight. RLUSD keeps the same issuer and custodian, and the trust bank still has to start operating.
- Reserve oversight gets stronger over time. A federally supervised trustee for reserves adds a layer of accountability that matters most in a stress event.
- A charter is not a guarantee. Custody at a trust bank is not covered by deposit insurance, and stablecoins can still depeg if reserves or redemptions fail.
- Diversify your stablecoins and routes. If you hold RLUSD, USDC or USDT, keep a way to move between them. Compare swap offers in Changerella App or the exchangers list.
FAQ
Did Ripple get a US bank licence?
Yes, a narrow one. On October 26, 2026, the OCC gave final approval for Ripple National Trust Bank, a federally chartered trust bank that can provide custody and act as trustee but cannot take deposits or make loans.
Will the trust bank issue RLUSD?
No. RLUSD continues to be issued by Standard Custody & Trust Company in New York, with BNY as primary custodian. The trust bank will manage and act as collateral trustee for the RLUSD reserves.
Is Ripple National Trust Bank open yet?
Not fully. Final approval lets it open, but it still has to launch and build out custody operations, under ongoing OCC supervision.
Which other crypto companies have national trust bank charters?
Circle's First National Digital Currency Bank received final OCC approval in July 2026. Several other crypto firms have applied or hold conditional approvals.