POPA ReconRipple got final approval from the US OCC to establish Ripple National Trust Bank, as CEO Brad Garlinghouse announced heading into RippleSwell on Oct. 26.
It follows the conditional approval from December 2025, about 10 months earlier. The charter is for a federal trust bank, not a deposit-taking bank: no deposits, no loans.
What it covers is a federally supervised platform to support RLUSD and provide digital asset custody to enterprises. In Garlinghouse's words, crypto and banks working together with federal oversight.
Per the channel summary, the new bank will manage segregated reserves behind RLUSD, act as collateral trustee for holders and offer custody, while RLUSD itself remains issued by Ripple's NYDFS-regulated trust company with BNY as primary reserve custodian. RLUSD is cited at about $2.6B market cap.
Next is starting bank operations as US GENIUS Act stablecoin rules roll out. Ripple counts 85+ licenses worldwide.
The Bloomberg report link itself was not readable, and no separate OCC post was found in the reads.