Ripple gets OCC approval for U.S. national trust bank

The Office of the Comptroller of the Currency has approved Ripple National Trust Bank (RNTB), making Ripple a federally chartered trust institution in the U.S. Ripple CEO Brad Garlinghouse confirmed the approval, which clears the final hurdle for the company to operate its own federally chartered trust bank.

The charter adds a U.S. banking license to Ripple's regulated custody business, which already spans RLUSD issuance, the XRP Ledger and institutional custody services. CoinDesk confirmed the approval as Ripple becomes one of the first crypto firms cleared to run a national trust bank.