Ripple’s bold move into traditional finance is approaching an important milestone. The company’s application with the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter, proposed under the name Ripple National Trust Bank, has entered its final review window.
According to official OCC filings, the standard 120-day review period following the application’s publication is set to conclude this Friday, October 31.
Ripple’s Application For A National Trust Bank License
Ripple applied for a national trust bank charter from the Office of the Comptroller of the Currency (OCC) on July 2, 2025. The application was for a national trust bank, not a traditional bank, and is intended to provide fiduciary activities like custody and infrastructure for its RLUSD stablecoin. The application was made in early July and entered a public review phase in October.
The Ripple National Trust Bank application represents Ripple Labs’ strategic expansion into federally supervised financial services. If approved, the charter would authorize the firm to operate a national trust bank headquartered at 111-119 West 19th Street in New York City. The application lists senior figures in the company like Stuart Alderoty, Timothy Keaney, John McDonald, David Puth, and John Zavaglia as the organizers, with Ripple Labs Inc. serving as the sponsoring institution from its San Francisco base.
This move extends the firm’s push beyond cross-border payments into full-scale institutional custody and settlement. It also aligns with the company’s ongoing efforts to establish the RLUSD stablecoin as a regulated, transparent digital dollar. As noted by Ripple CEO Brad Garlinghouse, if approved, the firm would have both state and federal oversight, which is a new and unique benchmark for trust in the stablecoin market. This comment was made by the Ripple CEO in July 2025 as confirmation of the license application.
The 120-Day Review Window And What Comes Next
Under OCC procedures, applications for national trust bank charters undergo a 120-day review to assess governance, capitalization, compliance programs, and management suitability. Ripple’s application entered that timeline after its public filing, meaning the review period ends on October 31. At this point, the OCC may issue an initial decision of approval, denial, or extension, depending on whether additional information is needed.
However, the ongoing US government shutdown could influence the timing of the company’s license review. The payment firm’s application is part of a growing list of crypto-based companies seeking a national trust bank charter as the digital asset industry pushes closer to full regulatory integration with traditional finance. Companies like Circle, Crypto.com, Coinbase, and Paxos have also applied with the US Office of the Comptroller of the Currency (OCC) for national trust bank charters.
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