The U.S. Office of the Comptroller of the Currency (OCC) has conditionally approved Ripple to establish Ripple National Trust Bank, allowing the company to manage non-fiduciary activities and operate more directly within the U.S. banking system. Following the announcement, XRP's price surged nearly 5% to $1.35.
Approval Details and Effective Date
According to the OCC ruling effective April 1, 2026, national bank charter applicants may engage in custody and safekeeping activities for digital assets. Ripple is among the first crypto firms to receive such approval. The trust bank will primarily serve institutional clients, offering cryptocurrency custody and management of its RLUSD stablecoin. The OCC emphasized that the approval is conditional, based on Ripple's detailed compliance plan and risk management framework.
Strategic Significance for Ripple
Ripple President Monica Long stated that the national trust bank charter significantly strengthens Ripple's position in payments and asset custody. By directly participating in the U.S. banking system, Ripple can more efficiently handle the issuance and redemption of RLUSD and provide liquidity support for its cross-border payment network. Additionally, the bank can hold XRP, Bitcoin, and other digital assets on behalf of institutional clients, reducing third-party custody risks. Long said, “This is a critical step towards making Ripple a global financial infrastructure, transforming XRP and the global payment system.”
Positive Market Reaction
XRP's price quickly rose from $1.25 to $1.35, a 5% intraday gain. Market participants view the OCC approval as legitimizing Ripple under U.S. financial regulation, which could attract more traditional financial players. The market capitalization of RLUSD also grew by about 2% in the 24 hours following the news, reflecting optimism about Ripple's compliance path.
Strong Opposition from Banking Groups
However, the Bank Policy Institute, representing major banks such as JPMorgan and Goldman Sachs, strongly criticized the OCC's decision. The institute argues that the OCC is creating an unfair playing field by allowing crypto firms to bypass stringent capital and liquidity requirements that traditional banks must meet. The group is considering legal action against the OCC. Some lawmakers have also expressed concerns, demanding disclosure of the specific terms of the approval.
Outlook and Regulatory Battle
Ripple's trust bank could become a milestone for crypto compliance. If the banking lawsuit succeeds, the OCC might be forced to tighten charter standards again. Conversely, other crypto firms like Circle or Coinbase might also seek national trust bank charters. Meanwhile, Ripple is accelerating its integration with the Federal Reserve's payment system (Fedwire) to prepare for live operations. In the long run, this approval will push stablecoins and digital asset custody into mainstream finance, but regulatory battles are far from over.