- RLUSD-USD
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Scott Melker discusses Ripple (RIPL.PVT) securing final approval from the Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank,
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Ripple just secured final approval for another piece of crypto’s financial infrastructure. Here’s the story.
Ripple gets final federal approval for a trust bank to manage its stable coin reserves. When the SEC was suing Ripple
uh a couple years ago, you probably didn’t have in your mind a headline where Ripple was going to become a bank. Now, to be fair, the people who have supported and championed Ripple for years did tell you that this was going to happen.
They announced a final OCC approval for Ripple National Trust Bank yesterday. That conditional approval, of course, was granted back in December of 2025, but now it is official.
The approved activities here include managing the segregated reserves supporting RLUSD. So RLUSD is Ripple’s native stable coin.
This gives them the ability, as we’ve talked about with other trust bank approvals in the past, to manage the reserves and everything surrounding their own stable coin.
They do not need a third party to manage their stable coin, which is big news for them.
Now, I think there’s only approximately 2.5 billion of RLUSD in circulating supply. It is one of the smaller stable coins, but that could grow massively and as it does, obviously, they will be their own custodian and will manage their own reserves.
I think that that’s really important. and interestingly, the remains regulated by New York’s Department of Financial Services, which is probably the most difficult regulator
in the United States. Now, once again,
these are not full banking charters. They do not authorize ordinary deposit taking or commercial lending, yield, loans, all the things that you’re used to with a bank.
This is a very narrow charter specifically for being able to custody and manage stable coin reserves.
Regardless, a big story for Ripple, great news for them. They got a bank charter, but obviously they’re not going to be handling like your mortgage application, right?
They’re building the regulated structure here behind digital dollar.
