Ripple wins U.S. trust bank charter as Garlinghouse hits back at banking lobby

ambcryptoPublished on 2025-12-12Last updated on 2025-12-12

Abstract

Ripple has received conditional approval from the OCC to form Ripple National Trust Bank, marking a major U.S. regulatory breakthrough for a crypto-native company. This charter, part of a broader approval for five digital-asset firms, allows Ripple to operate within the federal banking system, reducing barriers to institutional partnerships. CEO Brad Garlinghouse criticized traditional banking lobby efforts to delay crypto integration, emphasizing compliance under OCC supervision. Ripple’s stablecoin, RLUSD, will now operate under dual OCC and NYDFS oversight, positioning it among the most regulated stablecoins and enabling competition with USDC and PYUSD. The approvals signal a federal shift toward integrating blockchain infrastructure into traditional finance.

Ripple has received conditional approval from the Office of the Comptroller of the Currency [OCC] to form Ripple National Trust Bank. This marks one of the most significant regulatory breakthroughs for a crypto-native company in the United States.

The approval, announced on 12 December, is part of a broader OCC release confirming five new national trust bank charters for digital-asset firms.

In a statement accompanying the approvals, Comptroller of the Currency Jonathan Gould said,

“New entrants into the federal banking sector are good for consumers, the banking industry and the economy... The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance.”

Ripple now joins BitGo, Fidelity Digital Assets, and Paxos as newly chartered national trust banks.

However, Ripple stands out due to its expanding stablecoin business and the regulatory implications for RLUSD.

Ripple’s Garlinghouse fires back at banking lobby

Reacting to the approval, Ripple CEO Brad Garlinghouse took aim at traditional banking interests. He stated that they had sought to delay the integration of crypto into regulated finance.

“You’ve complained that crypto isn’t playing by the same rules, but here’s the crypto industry — directly under the OCC’s supervision and standards,”

Garlinghouse wrote. “What are you so afraid of?”

The response underscores the broader tension between incumbent institutions and blockchain firms seeking regulatory parity.

With this charter, Ripple gains a formal entry point into the U.S. banking system. Also, it reduces a persistent barrier to institutional partnerships and payments licensing.

What this means for RLUSD

Ripple’s stablecoin, RLUSD, now becomes the first major U.S. tokenized dollar to operate under dual oversight:

OCC supervision through Ripple National Trust Bank
NYDFS standards through Ripple’s existing compliance obligations

This framework positions RLUSD alongside the highest-regulated stablecoins in the market. Also, it enables Ripple to challenge leaders such as USDC and PYUSD.

Current CoinMarketCap data shows RLUSD maintaining a tight peg at $0.9999, supported by a circulating supply of 1.02 billion tokens.

While intraday volatility produces occasional spikes and dips, peg stability remains intact.

The new bank charter may allow Ripple to offer improved issuance controls, reserve transparency, and settlement guarantees, potentially accelerating RLUSD adoption in U.S. markets where regulatory clarity has been a sticking point.

A turning point for crypto banking in the U.S.

The OCC’s simultaneous approval of five digital-asset trust banks signals a notable shift in the federal approach to crypto supervision.

By bringing stablecoin issuers and custody platforms into the national banking perimeter, regulators appear more willing to integrate blockchain infrastructure rather than isolate it.

Also, for Ripple, the move provides a direct path into U.S. financial services — something years of regulatory battles had stalled.

Additionally, for the crypto industry, it represents one of the clearest signs yet that federal regulators are preparing for an economy where tokenized assets and stablecoins operate alongside traditional banking products.

Final Thoughts

Ripple’s new charter brings RLUSD under one of the strongest regulatory frameworks in the stablecoin market, setting a precedent competitors may be forced to follow.
The OCC’s approvals highlight a maturing federal stance on digital assets, positioning blockchain firms to operate inside, not outside, the U.S. banking system.

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