Ripple (XRP) Announces: The Expected Critical Approval from the US Has Arrived! What Does It Mean?

Ripple, the company behind XRP, one of the largest altcoins, made a major announcement today.

At this point, Ripple announced that it had received final approval from the Office of the Comptroller of Currency (OCC) to establish a federal trust bank that will form the basis for digital asset financial services.

Ripple CEO Brad Garlinghouse also stated in a statement from his X account that the Office of the Comptroller of Currency has given final approval for the establishment of Ripple National Trust Bank.

With this approval, Ripple will gain the authority to offer certain banking services under a federally overseen structure.

As you may recall, Ripple applied for Ripple National Trust Bank last July and received conditional approval in December.

Federal Audit Begins for $RLUSD!

According to Ripple’s statement, the new bank’s primary responsibilities include managing reserves of its US dollar-backed stablecoin $RLUSD, acting as a collateral trustee for these reserves, and providing digital asset custody services to institutional clients.

The issuance of $RLUSD will continue under Standard Custody & Trust Company, regulated by the New York Department of Financial Services (NYDFS). This will bring federal oversight for the new bank, complementing the existing state-level regulatory framework.

Ripple CEO Makes a Statement!

Ripple CEO Brad Garlinghouse stated that the final approval would provide a stronger foundation for the company’s institutional products for payments, custody services, and capital markets. He also described the approval as an example of collaboration between the traditional finance and crypto industries.

“We’ve always said that cryptocurrencies and banks can achieve better results when they work together.”

In conclusion, Ripple stated that with final approval following conditional approval in December 2025, the bank has completed a significant stage in its incorporation process and will continue to work with the OCC, NYDFS, and other regulatory bodies during the bank’s operational launch.

*This is not investment advice.