The Office of the Comptroller of the Currency (OCC) announced that Ripple, the leader in enterprise blockchain and crypto solutions, received conditional approval for its application to establish Ripple National Trust Bank (RNTB), a federally supervised trust bank. This OCC approval comes after the passage of the GENIUS Act, which President Trump signed in July 2025 to establish clear rules of the road for U.S. stablecoins. The announcement from the OCC reinforces Ripple’s leadership in building transparent, regulation-first financial solutions and its longstanding commitment to working with regulators and policymakers.

With a national trust bank managing RLUSD reserves, Ripple’s stablecoin business will be subject to oversight as a trust company at both the state and federal levels—through the New York Department of Financial Services (NYDFS) and the OCC, respectively. 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.

“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,” said Ripple CEO Brad Garlinghouse. “While anti-innovation bank lobbyists may claim otherwise, we are ensuring RLUSD is the most transparent and responsibly managed stablecoin in the market today.”

With final approvals from the OCC, Ripple can provide even stronger protections for RLUSD holders while ensuring the highest levels of accountability and security. RNTB’s services will also extend the same regulatory rigor behind RLUSD into its broader payments and institutional services offerings. Utility is already driving adoption, as RLUSD has surpassed $1B market cap in less than a year, and is actively used in Ripple’s payments solutions and as collateral by prime brokers like Ripple Prime, underscoring real-world demand for regulated, trusted stablecoins.

Ripple Payments, built on more than a decade of enterprise experience, leverages digital assets and stablecoins for real-time settlement, efficient on/off-ramps, and global liquidity. Ripple’s payout network extends to over 90% of the global FX market, processing more than $95 billion to date.

Source: Ripple

Circle Receives Conditional Approval from OCC for National Trust Charter

Circle Internet Group, Inc, one of the world’s leading internet financial platform companies, announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency Bank, N.A.

Once fully approved, First National Digital Currency Bank would operate as a federally regulated trust bank, subject to OCC oversight, and would oversee the management of the USDC Reserve on behalf of Circle’s U.S. issuer. The conditional approval represents an important milestone in Circle’s efforts to further strengthen the infrastructure supporting USDC – the world’s largest regulated stablecoin – and meet requirements under the GENIUS Act, which became U.S. law in July 2025.

“Establishing a national digital currency trust bank of this kind deepens Circle’s longstanding commitment to the highest standards of trust and compliance,” said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle. “As a public company, we’re focused on operating under rigorous regulatory oversight and building the infrastructure that allows digital dollars like USDC to become a core part of global finance. This important milestone will give the world’s leading institutions greater clarity and confidence to build on Circle’s platform as stablecoins and blockchain technology move rapidly into the mainstream.”

As a national trust bank, Circle’s First National Digital Currency Bank would enhance the safety and regulatory oversight of the USDC Reserve, while enabling Circle to offer fiduciary digital asset custody and related services to institutional customers. The charter would also help Circle further align its U.S. operations with global regulatory standards for stablecoins and digital financial infrastructure.Circle submitted its application to the OCC on June 30, 2025. The OCC’s conditional approval builds on Circle’s long history of pursuing clear and rigorous regulatory pathways across jurisdictions around the world. In 2015, Circle became the first company to receive a BitLicense from the New York Department of Financial Services (NYDFS) and remains engaged with NYDFS, the leading state digital asset regulator in the U.S. In 2024, Circle became the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. Circle has a variety of e-money and payments licenses in the UK, Singapore, and Bermuda; was the first global stablecoin to enter an undertaking with the Canadian Securities Administrators to satisfy the country’s Value-Referenced Crypto Asset requirements; and in 2025 received a license from Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate as a money services provider.

Source: Circle 

OCC Announces Conditional Approvals for Five National Trust Bank Charter Applications

The Office of the Comptroller of the Currency (OCC) today announced its conditional approval of five national trust bank charter applications. Subject to meeting the OCC’s conditions, these institutions will join approximately 60 other national trust banks currently supervised by the OCC.

In granting these conditional approvals, the OCC applied the same rigorous review and standards it applies to all charter applications. The OCC carefully reviewed each application, based on its individual merits, consistent with applicable statutory and regulatory factors.

“New entrants into the federal banking sector are good for consumers, the banking industry and the economy,” said Comptroller of the Currency Jonathan V. Gould. “They provide access to new products, services and sources of credit to consumers, and ensure a dynamic, competitive and diverse banking system. The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy.”

The OCC conditionally approved applications for de novo national trust bank charters for First National Digital Currency Bank and Ripple National Trust Bank.

The OCC also conditionally approved applications to convert from a state trust company to a national trust bank for BitGo Bank & Trust, National Association, Fidelity Digital Assets, National Association and Paxos Trust Company, National Association.

The federal banking system includes more than 1,000 national banks, federal savings associations, and federal branches of foreign banking organizations operating in the United States that range in size from 1,000 smaller community banks under $30 billion in assets focused on meeting local needs to the largest internationally active banks. These banking companies conduct a wide array of businesses that range from retail and wholesale banking activity to trust, credit card and other more narrowly focused services. The institutions that make up the federal banking system conduct approximately 67 percent of the banking activity in the United States, hold more than $17 trillion in assets combined and administer more than $85 trillion under their control.

Source: OCC