Ripple has scored a major regulatory victory in the United States after securing final approval from the Office of the Comptroller of the Currency (OCC) to establish a federally regulated national trust bank. The milestone marks a significant step forward for the blockchain payments giant as it expands its footprint in the U.S. financial system and strengthens its push into cross-border payments and asset tokenization.
Ripple Clears Major U.S. Regulatory Hurdle With OCC Banking Approval
Ripple CEO Brad Garlinghouse broke the news in an X post late Monday, revealing that the Office of the Comptroller of the Currency (OCC), the federal agency responsible for supervising national banks, had granted approval to Ripple National Trust Bank (RNTB).
The approval effectively gives one of the crypto industry’s biggest names a foothold in the federally regulated banking sector, highlighting the growing convergence between digital assets and traditional finance.
“We’ve always said crypto and banks work better together — this is what that looks like. Real innovation, real accountability, federal oversight,” Garlinghouse wrote.
Under the approved framework, Ripple National Trust Bank can manage reserves backing Ripple’s RLUSD stablecoin, serve as a collateral trustee for stablecoin holders, and offer digital asset custody services to institutional clients.
Despite the new approval, Standard Custody & Trust Company will continue to issue RLUSD, Ripple’s limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS). The national charter will add federal OCC oversight to the stablecoin’s existing state-level regulatory framework.
Launched in December 2024, RLUSD has since reached a market capitalization of roughly $2.58 billion, according to Ripple. The stablecoin is used across the company’s payments infrastructure and as collateral within Ripple Prime, extending its role in Ripple’s growing institutional financial services business.
“The revolution isn’t happening outside the system. It’s happening from within it,” Garlinghouse opined.
Ripple began pursuing the national banking charter in July 2025, receiving conditional approval from the OCC in December that year. The regulator has now granted final approval, completing a process that began more than a year ago.
What Does Ripple’s OCC Approval Mean for XRP?
Despite Ripple’s major banking breakthrough, XRP has yet to mount a significant rally in response to the announcement.
In early trading on October 27, the token traded around $1.30, up only 1.2% from the previous 24 hours. The muted reaction suggests that, for now, investors have yet to translate Ripple’s regulatory milestone into substantial buying pressure for XRP.
Notably, Ripple CTO Emeritus David Schwartz offered a more optimistic view of the link between XRP’s value and network adoption. In a recent exchange on X, Schwartz argued that widespread use of the network for financial applications would likely translate into stronger demand for XRP.
He highlighted several features that could support the token’s value, including its role as a counterparty-free asset that any account can accept and its use in paying transaction fees on the ledger. According to Schwartz, these built-in functions could help drive demand for XRP as adoption expands.
That said, Ripple’s banking approval could strengthen RLUSD adoption and make its broader ecosystem more attractive to financial institutions, including those exploring XRP for cross-border payments. If this expansion translates into greater use of XRP as a bridge asset for international settlements, it could drive higher demand and trading activity, potentially boosting the token’s price. However, the impact will depend on whether institutional adoption generates meaningful demand for XRP itself.