Ripple CEO Brad Garlinghouse just announced another groundbreaking achievement. The company is heading into Swell 2026 holding a federal banking charter. He revealed on X that the U.S. OCC gr
Ripple CEO Brad Garlinghouse just announced another groundbreaking achievement. The company is heading into Swell 2026 holding a federal banking charter. He revealed on X that the U.S. OCC granted final approval for Ripple National Trust Bank.
“The revolution isn’t happening outside the system,” Garlinghouse wrote. “It’s happening from within it.” He added that crypto and banks “work better together.”
Ripple has spent the past year building its regulatory standing within the U.S. financial system. That work produced the result the XRP army is now celebrating.
Big news heading into @RippleSwell: the @USOCC has granted final approval for Ripple National Trust Bank.
This gives Ripple a federally supervised platform to support $RLUSD and provide digital asset custody to enterprises.
We’ve always said crypto and banks work better…
— Brad Garlinghouse (@bgarlinghouse) October 26, 2026
The journey began in July 2025, when Ripple filed its application with the OCC for a national trust bank charter. On December 12, 2025, the OCC granted conditional approval, placing Ripple alongside Circle, BitGo, Paxos, and Fidelity Digital Assets.
Ripple had to demonstrate sufficient capital, build out AML and KYC systems, establish risk controls, and pass a final review of its information systems architecture. The OCC required the capital raise within 12 months and the bank to open within 18 months of the December 2025 decision.
Ripple cleared every requirement and received final approval roughly 10 months after conditional approval. The company beat its capital deadline by approximately two months.
Ripple National Trust Bank is a federally supervised trust bank. It will manage the segregated reserves backing RLUSD, and act as collateral trustee for RLUSD holders. It will also provide fiduciary digital asset custody to enterprise clients.
It does not accept deposits or issue loans, as it is not a retail bank. RLUSD reserves sit under dual oversight. The New York Department of Financial Services (NYDFS) supervises the issuer, Standard Custody and Trust Company, while the OCC supervises the trust bank holding the reserves.
Garlinghouse said the approval gives Ripple “a federally supervised platform to support $RLUSD and provide digital asset custody to enterprises.” The next significant step is a Federal Reserve master account, which remains pending. That approval would allow Ripple to hold RLUSD reserves directly at the Fed and settle payments without relying on third-party banks.
For XRP, the federal charter strengthens the regulatory foundation of the entire ecosystem. Institutional clients that require federally regulated counterparties now have a cleaner path to working with Ripple’s infrastructure.
RLUSD’s growing role as collateral within Ripple Prime adds further utility to the XRP Ledger. This news has excited the XRP community and they are eager for more announcements as Swell 2026 opens today.
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