Ripple wins final US approval for national trust bank
The approval clears the way for Ripple to manage reserves backing its RLUSD stablecoin and provide digital asset custody.
Ripple has received final approval from U.S. regulators to operate a national trust bank, marking a significant regulatory milestone for the blockchain payments company. The approval grants Ripple the authority to manage reserves backing its RLUSD stablecoin and offer digital asset custody services to institutional clients.
The move follows a broader push by Ripple to expand its regulated financial infrastructure in the United States. The company launched RLUSD, its dollar-pegged stablecoin, in late 2024 after receiving approval from the New York Department of Financial Services. Securing a national trust bank charter represents a deeper integration into the traditional financial system, allowing Ripple to operate under federal oversight rather than relying solely on state-level licensing.
The approval carries notable implications for the stablecoin sector, as it positions Ripple to self-custody the reserves underpinning RLUSD rather than depending on third-party institutions. This level of vertical integration is relatively uncommon among stablecoin issuers and could serve as a competitive differentiator, particularly as U.S. lawmakers continue to advance stablecoin legislation that emphasizes reserve transparency and institutional accountability.
Industry observers will be watching whether Ripple's regulatory foothold accelerates institutional adoption of RLUSD and whether other crypto firms pursue similar banking charters as the regulatory environment in the United States continues to evolve under the current administration.
Source: Cointelegraph
