Ripple Says OCC Approved Trust Bank, but Record Shows Conditional Status

Ripple said the Office of the Comptroller of the Currency had granted final approval to Ripple National Trust Bank, a proposed federally supervised institution intended to manage reserves backing its RLUSD stablecoin and provide digital-asset custody. The announcement, made October 26, followed conditional approval in December 2025, but an OCC charter record cited the next day still listed the bank’s status as preliminary conditional approval. Ripple chief executive Brad Garlinghouse announced the claimed final approval on X. The company said the bank is authorized to manage segregated RLUSD reserves, act as collateral trustee for holders and provide fiduciary custody of digital assets. These activities would put reserve management and custody under federal oversight. The OCC record cited on October 27 did not confirm that final step. It continued to show preliminary conditional approval, and the agency’s decision letter said the bank could not begin business until it met preopening conditions and received final approval. The letter described the OCC’s December 2025 action as conditional approval. The supplied accounts do not establish whether the regulator issued a subsequent...