Ripple Secures OCC Approval for Trust Bank to Back $2.6B RLUSD Stablecoin

Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) to establish a federally supervised trust bank, a move that will underpin its RLUSD stablecoin, currently valued at $2.6 billion. The new entity will manage the stablecoin's reserves and provide custody services, marking a significant step in Ripple's expansion into regulated financial infrastructure. This approval comes as banking industry groups continue to challenge crypto charters in court, highlighting the regulatory tensions surrounding digital assets. For Ripple, the OCC's green light offers a clearer path to operate within the traditional banking system, potentially boosting confidence among institutional users of RLUSD. The decision could set a precedent for other crypto firms seeking bank-like charters. As legal battles unfold, Ripple's trust bank may become a test case for how federal regulators treat crypto-native financial institutions.