OCC Grants Conditional Charter to Ripple National Trust Bank, Boosting RLUSD Oversight
The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval for Ripple to charter Ripple National Trust Bank, placing Ripple’s RLUSD stablecoin under federal oversight in addition to existing New York Department of Financial Services regulation. The charter, subject to OCC pre-opening and compliance conditions, would allow Ripple to offer custody and payment services, act as a transaction agent, and integrate more closely with U.S. banking infrastructure. Ripple applied for the charter about five months ago and is also pursuing a Federal Reserve master account to enable direct settlement via U.S. payment systems. CEO Brad Garlinghouse said the move aligns Ripple with traditional banking rules. The OCC applied standard national trust bank criteria and noted final operations depend on meeting operational and compliance requirements. The conditional approval aligns Ripple with other crypto firms seeking federal charters (Circle, Fidelity, Paxos, BitGo); Anchorage Digital remains the only company with an active national trust bank charter. Key implications for traders: increased regulatory legitimacy for RLUSD may raise institutional confidence and reduce perceived stablecoin risk; broader custody and payment services could improve liquidity and fiat on‑ramps/off‑ramps if final approvals follow; potential indirect uplift for XRP exists because Ripple’s payments stack and some rails use XRP, which could increase institutional demand. Monitor fulfilment of OCC conditions, progress on a Federal Reserve master account, specific regulatory stipulations attached to the charter, and market reaction—these factors will drive short‑term volatility and longer‑term adoption dynamics.
Bullish
The conditional OCC charter increases regulatory legitimacy for RLUSD and Ripple’s institutional offering, which is likely to be perceived positively by institutions and prime brokers. If Ripple satisfies OCC pre‑opening and compliance conditions and secures a Federal Reserve master account, that would materially ease fiat on‑ramp/off‑ramp friction and expand custody services — factors that typically support higher demand and liquidity for associated tokens. RLUSD itself should see reduced perceived counterparty risk, which can boost institutional usage. XRP could receive an indirect demand boost because Ripple’s payments stack and some institutional integrations route through XRP; the announcement therefore supports medium‑to‑long‑term bullish fundamentals. Short term, price action may be volatile: markets will react to the specific OCC conditions, timeline to a Fed master account, and any accompanying regulatory constraints. Traders should watch compliance milestones, Fed account progress, on‑chain flows, and institutional custody announcements to time trades and manage risk.