Ripple Secures Final OCC Approval for US Trust Bank as XRP Holds Near $1.30

Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) to establish its federally supervised national trust bank. According to Ripple CEO Brad Garlinghouse, the decision expands the company’s institutional banking capabilities, while XRP remained relatively unchanged at $1.30 to $1.31.

Ripple National Trust Bank Gains Federal Approval for Stablecoin and Custody Services

Ripple’s regulatory achievement follows an earlier conditional approval from the OCC, allowing the company to expand its institutional financial infrastructure. Under the approved structure, Ripple National Trust Bank will manage reserves supporting RLUSD and provide collateral trustee services for stablecoin holders. Additionally, the institution will offer digital asset custody services to institutional customers seeking federally supervised financial solutions.

Also Read: Ripple Ex-CTO David Schwartz Reveals Two Major Risks That Could Shut Down XRP Ledger

According to Garlinghouse’s update in a post, the approval demonstrates how cryptocurrency businesses can integrate their services into established banking systems.

“We’ve always said crypto and banks work better together,” Garlinghouse stated.

Despite securing federal approval, Ripple National Trust Bank will not operate as a conventional commercial bank accepting deposits or issuing loans. Instead, its responsibilities will center on reserve management, institutional custody, and fiduciary services.

Meanwhile, Ripple subsidiary Standard Custody & Trust Company will remain responsible for issuing RLUSD under New York Department of Financial Services supervision. Ripple reported that RLUSD has reached approximately $2.5 billion in market capitalization since launching in December 2024.

XRP Price Remains Stable

Despite the regulatory announcement, XRP saw limited price movement, staying between $1.30 and $1.31 during early October 27 trading. Meanwhile, the announcement coincides with preparations for Ripple’s Swell 2026 conference, scheduled for October 27 through October 29 in New York City.

The event will bring together traditional financial institutions, cryptocurrency companies, and representatives from the XRP ecosystem to discuss developments across digital finance. Ripple’s approval strengthens its regulated banking infrastructure, while XRP’s price remains largely unchanged following the announcement.

Also Read: BitMine Ethereum Holdings Hit $14 Billion After Latest 10,452 ETH Purchase