Ripple gets permission to create a national trust bank

The US regulator OCC has approved the launch of Ripple National Trust Bank, allowing the company to establish its own trust bank in the United States.

The bank will manage the reserves of the RLUSD stablecoin, protect the interests of its holders, and provide crypto asset custody services for institutional clients.

The management structure involves dual oversight. The issuance of RLUSD remains with a Ripple subsidiary regulated by New York financial authorities, supplemented by federal oversight from the OCC.

This new structure is not intended to accept retail deposits or issue loans.