The approval clears the way for Ripple to manage reserves backing its RLUSD stablecoin and provide digital asset custody.
Ripple said it has received final approval from the US Office of the Comptroller of the Currency to establish a national trust bank, the latest step in its push into traditional finance.
Ripple secures final OCC approval for its national trust bank to manage RLUSD reserves and provide federally supervised digital asset custody services.
Ripple now has the green light to run a federally chartered trust bank and this comes after the U.S. Office of the Comptroller of the Currency (OCC) granted final approval to Ripple National Trust...
The Office of the Comptroller of the Currency has approved Ripple National Trust Bank (RNTB), Ripple's CEO Brad Garlinghouse announced on X.
Ripple's new federally supervised bank is designed to manage the reserves behind RLUSD and act as collateral trustee for token holders.
RLUSD will retain its New York-regulated issuer while the national trust bank manages reserves and provides fiduciary digital asset custody.... Read the full story at The Defiant
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