Ripple has received final approval from the Office of the Comptroller of the Currency, or OCC, to establish Ripple National Trust Bank, according to Techub News, which cited CryptoPotato. The new entity will operate under federal supervision. Ripple plans to use the bank to support reserves for RLUSD and to provide institutional-grade digital asset custody. The approval gives Ripple a federally regulated trust bank structure tied to two core parts of its business outlined in the report: stablecoin reserve support and custody services for institutions. No additional details on timing or operations were disclosed in the source material.
Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank, according to Techub News, citing CryptoPotato.
The bank will be federally regulated and will be used to support RLUSD reserves and institutional-grade digital asset custody.
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