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- Ripple received final federal approval to establish a national trust bank on October 26.
- The new bank will manage segregated reserves backing the RLUSD stablecoin.
- Ripple has not announced an opening date for the newly approved trust bank.
On Oct. 26 Ripple received final federal approval to establish a national trust bank that will manage reserves backing its RLUSD stablecoin and provide digital asset custody services.
For RLUSD holders and traders, the development adds a federally supervised institution to the stablecoin’s reserve arrangements. Ripple’s New York-regulated Standard Custody & Trust Company will continue issuing RLUSD, and the company has not announced when the new bank will open.
Trust Bank to Manage RLUSD Reserves
The trust bank’s approved activities include managing segregated reserves backing RLUSD and acting as collateral trustee for stablecoin holders. The company said the bank will also be authorized to provide fiduciary digital asset custody services when it opens.
A national trust bank is a federally chartered institution focused on trust and custody services. Its permitted activities depend on its charter and approved business plan. Ripple has not announced an opening date for its trust bank.
RLUSD will continue to be issued by Standard Custody & Trust Company, its limited-purpose trust company regulated by the New York Department of Financial Services. The trust bank would place its RLUSD reserve-management activities under federal supervision, while Standard Custody remains regulated in New York.
The company identified BNY as the primary custodian of RLUSD’s reserves and said independent third parties provide monthly attestations covering the stablecoin’s supply and reserve assets. Ripple said RLUSD had reached a market capitalization of approximately $2.5 billion at the time of its announcement.
Final Approval Follows Conditional Decision
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to Ripple’s trust bank application in December 2025. That decision was part of a group of five conditional approvals involving companies seeking national trust bank charters.
The OCC had granted final approval, completing the bank’s organization process. The OCC’s published decisions index lists the December 2025 preliminary approval.
Ripple would continue working with the OCC, New York regulators and other authorities as the trust bank begins operations. The company did not specify when its reserve-management and custody services would begin.
