Overview
- The Office of the Comptroller of the Currency has granted final approval for Ripple National Trust Bank to manage reserves for RLUSD and to provide fiduciary custody services to enterprise clients.
- RNTB is a limited-purpose national trust bank that cannot take deposits or make loans, so its business will depend on demand for custody, reserve management, and related institutional services.
- Issuance of RLUSD will remain with Standard Custody & Trust Company under New York Department of Financial Services oversight, creating dual supervision of the stablecoin’s reserves and custody arrangements.
- Ripple says RLUSD’s reported market value is about $2.5 billion and that Bank of New York Mellon remains the primary reserve custodian, with monthly third-party attestations used to verify collateral.
- The final charter completes the conditional authorization first granted in December 2025 and comes as the OCC finalized rules implementing parts of the GENIUS Act for payment stablecoins that take effect in January 2027, a step that could reshape competition among regulated custody and stablecoin providers.