Ripple Seeks OCC Charter and Fed Account for RLUSD Trust
Ripple has applied for a US national bank charter from the Office of the Comptroller of the Currency (OCC) to bring its RLUSD stablecoin under federal oversight. The company also seeks a Federal Reserve master account via its Standard Custody arm, enabling it to hold RLUSD reserves directly at the Fed. CEO Brad Garlinghouse says this setup will set a new compliance and institutional trust benchmark for stablecoins.
This move follows USDC issuer Circle’s similar OCC-chartered trust bank application. Both efforts align with the newly passed GENIUS Act, which mandates full dollar backing and transparency for stablecoins. Approval would allow direct Fed custody and greater reserve security.
The news boosted XRP nearly 3% on market reaction. Sector parallels include the Peter Thiel–backed Erebor Bank targeting crypto startups and Belgium’s KBC Bank planning Bitcoin and Ethereum investments via its Bolero platform.
Bullish
Short-term, Ripple’s bid for an OCC charter and Fed master account drove positive market sentiment, lifting XRP nearly 3%. Traders may view direct Fed custody of RLUSD reserves as a risk reducer that enhances transparency. Long-term, securing federal oversight and benchmarking stablecoin compliance could boost institutional adoption of RLUSD and XRP. Aligning with the GENIUS Act and mirroring Circle’s USDC strategy further underlines a shift toward regulated stablecoins, supporting sustainable growth and confidence in Ripple’s ecosystem.