# Ripple's trust bank will manage RLUSD reserves > Ripple has final OCC approval for a national trust bank that will manage RLUSD reserves and act as collateral trustee once it opens. SCTC keeps issuing the coin. - **Source:** https://ptycoin.com/en/posts/2026-10-28-ripple-national-trust-bank-occ-final-approval/ - **Published:** 2026-10-28 - **Category:** News - **Author:** Mateo - **Tags:** stablecoins, regulation, banks, rlusd, occ - **Also published in:** [Español](https://ptycoin.com/es/posts/2026-10-28-ripple-national-trust-bank-occ-final-approval/) --- The reserves behind Ripple's RLUSD stablecoin will sit with a federally supervised trust bank that Ripple owns, while the company that issues the token stays the same. According to Ripple's [press release](https://ripple.com/ripple-press/ripple-receives-final-occ-approval-to-establish-national-trust-bank/), the OCC (Office of the Comptroller of the Currency) has granted final approval to charter Ripple National Trust Bank (RNTB), after a conditional approval in December 2025. A stablecoin is a digital token built to track a government currency. RLUSD tracks the US dollar. Standard Custody & Trust Company, LLC (SCTC) still issues RLUSD. It is Ripple's limited-purpose trust company, regulated by the New York Department of Financial Services (NYDFS). Ripple says the new bank adds federal OCC oversight to that setup. Brad Garlinghouse, CEO of Ripple, said, "crypto and banks work better together." The OCC's [Corporate Applications Search](https://apps.occ.gov/CAS/home/details?FilingID=RjzoD2gxmYOv&FilingSubtypeID=1093&FilingTypeID=2) record lists control number 2025-Charter-342347 as received on 2 July 2025, approved on 12 December 2025, and consummated/effective on 26 October 2026, with headquarters in New York, NY, trust powers requested, and the charter type listed as a national bank under a holding company, in the trust-bank category. Ripple has not given an opening date. On 12 December 2025, according to the OCC [news release](https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125.html), the agency conditionally approved five national trust charters in all: Ripple's, First National Digital Currency Bank, and state-trust conversions for BitGo, Fidelity Digital Assets, and Paxos. It said that if its conditions were met, those banks would join about 60 other national trust banks it supervised then. ## What the bank will do once it opens In the December [decision letter](https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/ca1359.pdf), a national trust bank is limited to trust-company work, such as fiduciary tasks and custody. RNTB must not be a bank that both takes demand deposits and makes commercial loans. Upon opening, RNTB will manage a segregated pool of liquid assets set aside behind RLUSD, act as collateral trustee of that pool for holders, and provide fiduciary custody of digital assets. A collateral trustee keeps the assets in trust for the holders and owes them a fiduciary duty. The letter says reserve management for SCTC would be handled on a directed basis, and that the trustee role would be fiduciary. Custody, also fiduciary, would cover affiliates and outside institutional customers. Upon opening, Ripple says, the bank may offer that custody to enterprises. Ripple Labs Inc., a Delaware company founded in 2012 and based in San Francisco, will be the direct holding company. The OCC gave that preliminary approval on the understanding that the bank would apply for stock in a Federal Reserve Bank. The letter grounds the trustee work in the federal fiduciary statute and the OCC's trust rules, and the custody work in that statute together with New York law. Business could not start until preopening steps were done. ## What the December letter says the bank is not As a condition of the preliminary approval, the bank must stay inside the business plan's trust-company work and outside the Bank Holding Company Act test above. The letter writes no end date on that limit, or on the GENIUS Act condition below. Stablecoin issuance is off the plan. The letter says the bank "will not be a stablecoin issuer". RNTB will not be an insured depository: in the letter, a bank or savings association with deposits the FDIC insures. This trust bank has no FDIC deposit insurance. If and to the extent necessary, the collateral-trustee setup and any other activity have to be changed, stopped, or sold off so they meet the GENIUS Act, rules under it, and later laws. The OCC alone decides when that is met. ## Capital and notice for the first three years For the first three years of operation, tier 1 capital must be at least $11.7 million, and Eligible Liquid Assets must clear the higher mark: at least 50 percent of that capital, or $5.85 million. Every quarter the bank checks again and adds more if risk, plans, growth, or a cushion for unexpected losses requires it. Those assets are unencumbered cash, deposits at insured banks due within 90 days, and US government obligations on that clock, plus other assets only with the OCC's written non-objection. They must exceed the bank's own deposits, borrowings, and similar debts. They cannot be pledged, under a lien, open to set-off, or owed by an affiliate. The bank must also hold 180 days of operating expenses in that pool for those three years, without counting the same dollars twice. The figure has to include fixed and variable costs of a stressed wind-down. Costs that exist only in ordinary times, such as research and development, need not be in it. For the in-organization period and those three years, a significant change in the plan or in operations, including risk and operating limits, needs at least 60 days' written notice to the Novel Bank Supervisory Office and the OCC's written no-objection. An OCC application replaces that notice. Senior executives and directors, including trust, compliance, technology, and Bank Secrecy Act officers, need a biographical filing and the OCC's no-objection, which the agency does not have to give within 90 days. ## How Ripple describes RLUSD According to Ripple, RLUSD launched in December 2024 and stands at a $2.5 billion market cap. Ripple says the coin is used in its payments business and as collateral in Ripple Prime, that BNY is the main custodian of the reserves, that an independent third party attests each month to coins in circulation and to the reserve assets, and that the reserves are US dollar deposits, US government securities, and other cash equivalents. ## If you hold RLUSD If you hold RLUSD, the issuer and its New York regulator stay the same. What changes is who will manage the reserves and hold them in trust, under federal supervision, as the bank begins operations. The trust bank is not FDIC-insured, per the OCC letter. As RNTB begins operations, Ripple says it will stay in touch with the OCC and the NYDFS, and with other regulators, while the United States puts the GENIUS Act framework into effect. The OCC's GENIUS Act rule takes effect on 18 January 2027. PTYcoin covered that [final rule](/en/posts/2026-10-22-occ-genius-act-final-rule/). This article is not investment advice. --- ## Keep reading - [Minteo, the Bogotá issuer of the COPM peso stablecoin, has seen COPM supply on-chain fall to less than half its April peak of 11.07 billion, and the newest reserve report on its site still covers the end of June](https://ptycoin.com/en/posts/2026-10-16-minteo-copm-colombian-peso-stablecoin/index.md): Supply of Minteo's COPM peso token fell from 11.07 billion in April to 5.05 billion on-chain. Multisigs can mint, freeze and burn it, and the newest BDO reserve report posted covers June. - [ikigii, Towerbank's Panama-licensed banking app, lets you borrow dollars or stablecoins against Bitcoin at a 50% loan-to-value with a margin call at 65%, so the liquidity arrives without selling the coins](https://ptycoin.com/en/posts/2026-09-11-ikigii-towerbank-btc-loans/index.md): ikigii is Towerbank's SBP-supervised Panama app: borrow USD or stables against BTC at 50% LTV, margin call at 65%, dollar account, Visa debit, and bank custody instead of an offshore desk. - [El Dorado: LatAm stablecoin superapp for P2P, QR and dollar accounts](https://ptycoin.com/en/posts/2026-06-26-el-dorado-latam-stablecoin-superapp/index.md): El Dorado is a LatAm money superapp to buy, hold and send digital dollars (USDT/USDC) via P2P with 80+ local payment methods, named USD accounts and QR/Pix. It raised a $9M Series A led by Paradigm. --- Source: PTYcoin — https://ptycoin.com/en/posts/2026-10-28-ripple-national-trust-bank-occ-final-approval/. Free to read and cite with attribution to ptycoin.com. AI-usage terms: https://ptycoin.com/en/ai-usage/