Brad Garlinghouse, CEO of Ripple, confirmed on X that greenlight status has been granted by the Office of the Comptroller of the Currency to charter Ripple National Trust Bank.
Following a federal greenlight, cross-border payments and tokenization provider Ripple can now operate a specialized bank that is supervised directly by U.S. regulators.
Late Monday, Ripple CEO Brad Garlinghouse announced on X that Ripple National Trust Bank was officially approved by the Office of the Comptroller of the Currency, the main regulator overseeing national banks.
Basically, a major crypto player was handed a conventional banking license, showing how digital assets are moving deeper into mainstream finance. After applying in July 2025, Ripple secured initial OCC clearance that December before regulators finalized the approval this week.
This decision aligns with Garlinghouse’s long-standing argument that crypto firms need to create products that are actually adopted by mainstream banks and major institutions.
“For years, we’ve said crypto and banks work better together. Final approval for Ripple National Trust Bank is what that looks like in practice,” Garlinghouse said in the press release. “We’ve spent over a decade building regulated financial infrastructure that institutions can actually use at scale. A national trust charter gives us an even stronger foundation for RLUSD and the institutional products we’re building across payments, custody and capital markets.”
Under the new setup, managing the asset reserves backing Ripple’s RLUSD stablecoin will be handled by RNTB—funds that directly secure the token’s underlying value.
Serving as a trustee for these funds, the entity will provide regulated custody services, ensuring digital assets are safely stored for major institutions utilizing crypto across payments, trading, and treasury management.
Standard Custody & Trust Company, Ripple’s New York-regulated entity, will continue issuing RLUSD, while the new bank adds another layer of oversight—ensuring the stablecoin’s framework is watched over by both state and federal regulators.
Since its December 2024 launch, RLUSD has expanded to roughly $2.5 billion in market value, placing it inside the top 50 stablecoins globally. Ripple leverages the token within its payment ecosystem and as collateral on Ripple Prime, securing its backing through U.S. dollar deposits, government bonds, and cash equivalents. Most of these reserves are held by BNY, while Ripple concurrently utilizes XRP—the fifth-largest cryptocurrency—to streamline cross-border transfers.
Ripple confirmed it will maintain close coordination with the OCC, New York officials, and key partners during launch, particularly as new stablecoin regulations are rolled out across the U.S. under the GENIUS Act.
