Ripple Clears Final OCC Hurdle for National Trust Bank

Brad Garlinghouse, CEO of Ripple, declared on X that the US Office of the Comptroller of the Currency (OCC) has granted the final authorization for Ripple National Trust Bank. This authorization provides the firm with a federally supervised framework for its RLUSD stablecoin and for the safekeeping of digital assets held by corporations.

Garlinghouse framed this as significant news leading up to Ripple's Swell event, presenting it as evidence that financial institutions and crypto companies can collaborate effectively. The executive stated, "The revolution isn't happening outside the system. It's happening from within it," further noting that the bank provides "real innovation, real accountability, federal oversight." Stuart Alderoty emphasized a past choice made by Ripple to "build within the regulatory perimeter, not around it." He added that establishing clear rules and strict supervision fosters trust, and trust is what allows new financial infrastructure to expand. Jack McDonald, representing SPV for Stablecoins at Ripple, shared that the approval signifies "much more than a charter on paper." This newly approved bank is intended to manage the reserves that support RLUSD and to serve as the collateral trustee for the token holders. Furthermore, regulated custody is incorporated into its design, thereby integrating federal banking supervision into infrastructure that institutions already utilize.

The Blockchain Association, acknowledging Ripple as a long-standing participant, offered congratulations to the company and its CEO. They characterized the approval as a major step toward incorporating digital asset advancements into the US banking system and enhancing American leadership.

The path to this final approval involved an initial conditional OCC approval for the charter in December 2025, as reported by CryptoPotato at that time. During that same period, Circle obtained comparable approval, while BitGo, Paxos, and Fidelity transitioned their state-chartered trust companies into the federal system. Comptroller Jonathan Gould remarked that every application underwent a thorough examination, indicating that the applicants had further stipulations to satisfy before achieving full operational status.

Garlinghouse leveraged that announcement to challenge banking lobbyists, labeling their tactics as anti-competitive and transparent, and posing the question, "What are you so afraid of?" He also characterized the approval as a substantial progression for RLUSD, asserting that it establishes the highest benchmark for stablecoin compliance, benefiting from oversight from both the OCC and the New York Department of Financial Services.

Ripple's banking connections expanded earlier this month when Cross River Bank, located in New Jersey, agreed to integrate RLUSD into its Core Operating System, which links payment networks with financial services. Through this system, businesses will be capable of transferring funds between US dollars and RLUSD, utilizing ACH transfers and wires via a singular API connection, with XRP Ledger transactions finalizing in approximately three to five seconds. Currently, this availability is restricted to specific states. Garlinghouse's post did not specify a date for when the bank will commence operations. The initial publication of the post, titled "Ripple Clears Final OCC Hurdle for National Trust Bank," occurred on CryptoPotato.