Crypto-focused payments company Ripple has secured conditional approval from the U.S. OCC to charter Ripple National Trust Bank.
Ripple CEO Brad Garlinghouse announced the development on Friday, describing it as a significant step forward for the company’s U.S. expansion, particularly for its U.S. dollar–backed stablecoin, RLUSD. He emphasized that the approval reinforces Ripple’s commitment to operating fully within the U.S. regulatory framework.
HUGE news! @Ripple just received conditional approval from the @USOCC to charter Ripple National Trust Bank. This is a massive step forward – first for $RLUSD, setting the highest standard for stablecoin compliance with both federal (OCC) & state (NYDFS) oversight.
To the…
— Brad Garlinghouse (@bgarlinghouse) December 12, 2025
Other Crypto Entities Secure Similar Approval
The approval follows Ripple’s application for a national bank charter in July. At the time, many observers doubted the company’s chances, as crypto firms have historically faced steep hurdles in obtaining such licenses. Prior to the application, Anchorage Digital was the only crypto-related company to secure a national bank charter.
However, buoyed by what it viewed as a more pro-crypto regulatory climate under the Trump administration, Ripple moved forward with its application. Similarly, other major crypto entities, including Circle and Fidelity Digital Assets, have also sought national trust bank charters. The OCC has now granted conditional approval to these firms, including Ripple, signaling a broader shift in regulatory openness.
By securing federal-level conditional approval, Ripple places RLUSD under direct OCC supervision. At the same time, the stablecoin remains under state-level oversight by the New York Department of Financial Services (NYDFS). According to Garlinghouse, this dual regulatory framework establishes the highest standards for stablecoin compliance in the United States.
Garlinghouse Takes Aim at Banking Lobbyists
Notably, he argued that the move directly challenges a long-standing criticism from traditional banking interests that crypto firms operate outside established financial rules. Instead, Ripple’s progress, in his view, clearly contradicts that narrative.
By securing this approval, Ripple is voluntarily placing itself under the same federal regulatory framework that governs traditional banks, thereby signaling a strong commitment to compliance, consumer protection, and institutional-grade trust.
Meanwhile, Garlinghouse used the announcement to take aim at banking lobbyists, accusing them of deploying anti-competitive tactics. He contended that complaints about crypto’s regulatory status are increasingly hollow, as companies like Ripple are not only operating within existing rules but, in some cases, exceeding them.
Ultimately, he posed a direct challenge by asking what these critics are truly afraid of, underscoring his belief that resistance from segments of the traditional financial sector stems more from fear of competition than from genuine regulatory concerns.
Next Steps
In the meantime, the OCC clarified in its statement that the decision represents only a preliminary, conditional approval. The regulator stressed that Ripple National Trust Bank will not commence operations until it fully satisfies all pre-opening requirements.
Until final approval is granted, the OCC noted that it retains the authority to amend, restrict, or even suspend the conditional license if circumstances or subsequent actions warrant such measures.
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