Ripple CEO Brad Garlinghouse announced on X that the company has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to charter Ripple National Trust Bank. This marks an important step for Ripple as it works to bring its stablecoin, RLUSD, under both federal oversight (OCC) and state oversight (New York Department of Financial Services).
Garlinghouse said the approval shows that Ripple is willing to operate under the same strict rules as traditional financial institutions. He also criticized banking lobbyists who have argued that crypto companies avoid regulation. “What are you so afraid of?” he wrote, adding that Ripple is prioritizing compliance, trust, and innovation.
Ripple supporters celebrated the announcement, saying RLUSD is now set to become the first stablecoin issued under a national bank charter and under direct OCC supervision.
The move follows Ripple’s larger effort to apply for a US national bank charter and a Federal Reserve master account, which would allow the company to operate like a federally regulated bank. This would give Ripple access to US payment infrastructure such as Fedwire and allow it to settle transactions directly in US dollars.
If approved, Ripple would be the first blockchain-native company with this level of access to the US banking system. It would also allow Ripple to run payment operations without depending on outside banks.
A bank charter and Fed master account could strengthen Ripple’s position in the global payments industry. It would allow the company to settle international transfers faster and at lower cost. Analysts say this could increase the practical use of XRP, especially for cross-border liquidity.
Many in the XRP community also say this move could boost long-term confidence in the token. If Ripple operates as a regulated financial institution, banks and institutions may feel more comfortable using XRP in their payment flows.
For now, the conditional approval shows a big shift: a leading crypto company is moving toward direct integration with the traditional US banking system, setting a new regulatory standard for the industry.
