The post Ripple Wins Major Federal Baking License from OCC appeared on BitcoinEthereumNews.com. Key Highlights OCC has approved Ripple to operate a national trustThe post Ripple Wins Major Federal Baking License from OCC appeared on BitcoinEthereumNews.com. Key Highlights OCC has approved Ripple to operate a national trust

Ripple Wins Major Federal Baking License from OCC

2025/12/13 04:22

Key Highlights

  • OCC has approved Ripple to operate a national trust bank 
  • Ripple is planning to establish Ripple National Trust Bank (RNTB), a federally supervised trust bank
  • With a national trust bank managing RLUSD reserves, Ripple’s stablecoin business will face oversight at both the state and federal levels

On December 12, Ripple announced that it secured conditional approval from a U.S. banking regulator to operate a national trust bank. The U.S. Office of the Comptroller of the Currency (OCC)’s approval will grant the firm federal oversight to establish Ripple National Trust Bank (RNTB), a federally supervised trust bank.

Ripple to Form National Trust Bank

Ripple National Trust Bank (RNTB) will focus on digital asset custody, and it will manage its USD-pegged stablecoin, RLUSD. 

Ripple CEO Brad Garlinghouse stated in the press release, “The conditional approval of our trust bank charter represents a massive step forward – setting the highest standard for stablecoin compliance with both federal and state oversight. While anti-innovation bank lobbyists may claim otherwise, we are ensuring RLUSD is the most transparent and responsibly managed stablecoin in the market today.”

Its application was reviewed under strict OCC standards, examining the company’s finances, management, and risk controls. The company committed over $1 billion in initial capital to the trust bank. 

“This dual layer of regulation sets a new bar for transparency and compliance in the stablecoin market, something no other issuers today can claim. As traditional finance continues to enter the market, they will look to leverage stablecoins with the highest regulatory rigor and compliance, offering the trust and reliability required for enterprise adoption,” stated in the press release.

To win this major legal approval, the company also mentioned its settlement of a long-running lawsuit with the U.S. Securities and Exchange Commission in March.

The federal charter is expected to directly benefit the firm’s main business of cross-border payments. Its network can now integrate more easily with federal payment systems. 

“To the banking lobbyists – your anti-competitive tactics are transparent. 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 – prioritizing compliance, trust and innovation to the benefit of consumers. What are you so afraid of?” Ripple CEO said.

OCC Head Hints At New Era for Crypto Banking 

At the Blockchain Association Policy Summit, the OCC Head,  Jonathan V. Gould, gave his remarks on De Novo Charters. Just days before the announcement, Jonathan V.  Gould gave a speech in which he criticized the regulators for historically blocking new bank formations. 

He clearly stated that digital asset firms deserve a clear gateway to become regulated banks. The OCC conditionally approved a few other crypto companies alongside Ripple.

“Chartering new banking institutions is one of the OCC’s core functions. A robust pipeline of de novo banks is crucial to a healthy financial system. New charters ensure a diverse banking sector, as new entrants bring new ideas, new products, and new services to U.S. consumers. De novo institutions are an important source of competition to market incumbents, which not only results in more consumer choice but also incentivizes existing institutions to improve their products and services to remain dynamic market participants,” he said.

Recently, Ripple announced XRP’s official integration into the Solana ecosystem, which was announced at the Solana Breakpoint conference in Abu Dhabi. This cross-chain bridge will be powered by the Wormhole protocol. 

Also Read: Ripple, AMINA Bank Unite Amid Rail Acquisition Completion

Source: https://www.cryptonewsz.com/ripple-major-federal-baking-license-from-occ/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

5 key takeaways from CNBC investigation

5 key takeaways from CNBC investigation

The post 5 key takeaways from CNBC investigation appeared on BitcoinEthereumNews.com. Walmart‘s online marketplace has become a key part of its strategy to grow profit faster than sales and better compete against its longtime rival, Amazon. As the largest U.S. retailer with more than 4,600 locations nationwide, growing sales online is also critical for its future. But a CNBC investigation found Walmart’s digital boom came as it made it easier for third-party sellers to join and sell on its marketplace, a strategy that has come with a cost. Some consumers have received counterfeit, potentially dangerous products after shopping on the marketplace, CNBC found. The investigation also uncovered dozens of third-party sellers who had stolen the credentials of another business to set up an account, including some who were offering fake health and beauty items. In the early days of Walmart’s online marketplace, former employees and sellers said it had strict policies for vetting third-party sellers and the products they offer. But over time, Walmart loosened those controls in a bid to woo sellers away from Amazon and appear more friendly than its rival, according to sellers, e-commerce consultants, and current and former employees.  When asked for comment on CNBC’s reporting, Walmart said “trust and safety are non-negotiable for us.”  “Counterfeiters are bad actors who target retail marketplaces across the world, and we are aggressive in our efforts to prevent and combat their deceptive behavior,” Walmart said. “We enforce a zero-tolerance policy for prohibited or noncompliant products and continue to invest in new tools and technologies to help ensure only trusted, legitimate items reach our customers.”  CNBC’s investigation uncovered new details about Walmart’s strategy to grow its online marketplace and the risks it took to take market share from Amazon.  Here are five takeaways from the investigation. Stolen identities and product tests  During CNBC’s investigation into Walmart’s marketplace, it found at least 43…
Share
BitcoinEthereumNews2025/09/19 22:10