Ripple has received final approval from the Office of the Comptroller of the Currency to open Ripple National Trust Bank, according to chief executive Brad Garlinghouse, who announced it on X late on Monday. CoinDesk and The Block both carry the report.
The path was a long one. Ripple applied in July 2025 and won conditional approval in December 2025. The reports do not list any conditions still outstanding.
The bank is meant to manage the reserves behind RLUSD, act as their trustee, and offer regulated custody to institutional clients in payments, trading and treasury work.
RLUSD launched in December 2024 and has a market value of about $2.5 billion, which puts it among the largest fifty stablecoins. Its reserves are US dollar deposits, government securities and other cash-like assets, with BNY holding most of them.
The token will still be issued by Standard Custody & Trust Company, Ripple’s New York-regulated unit. That leaves a state-regulated issuer and a federally chartered reserve manager sitting side by side, which is tidier on a press release than it is likely to be in a compliance manual.
CoinDesk notes that the arrival of the GENIUS Act rules is a factor in the timing, without saying how.
What the announcement did not bring is a date. No opening has been set, and nothing explains how reserves will move to the new bank or which regulator answers for what once they do. Ripple says only that it will keep working with the OCC and New York officials as the bank starts up.
