Ripple's Banking Charter Pitch
Ripple President Monica Long says the firm’s new banking charter will simplify partnerships with traditional banks and expand global payments on the XRP Ledger — a direct push to make Ripple’s rails easier for banks to adopt (x.com). The statement was shared on March 19 alongside social coverage and visuals, positioning the charter as a commercial bridge to incumbents (x.com).
The Office of the Comptroller of the Currency issued preliminary conditional approval on Dec. 12, 2025 for Ripple to charter “Ripple National Trust Bank,” authorizing a de novo national trust bank to perform fiduciary and custody activities. (occ.gov) Ripple says the trust bank will put oversight of its RLUSD stablecoin reserves under both OCC supervision and the New York Department of Financial Services, creating a dual federal‑state compliance structure for those reserves. (ripple.com) Ripple announced BNY Mellon as the custodian for RLUSD reserves in July 2025, a partnership the company has described as complementary to its trust‑bank and stablecoin infrastructure. (secure.businesswire.com) The OCC’s conditional approvals were part of a group decision that included Circle, Paxos, BitGo and Fidelity Digital Assets and attach supervisory milestones that firms must satisfy before full bank operations can commence. (coindesk.com) Ripple executives have publicly framed the charter as a commercial lever to reduce banks’ regulatory friction by packaging custody, settlement and compliance services — a message echoed in company commentary and investor briefings. (ripple.com) Investors and partners will be watching two concrete next steps: Ripple meeting the OCC’s conditions within the regulator’s timeline, and any Federal Reserve decision on Ripple’s bid for a Fed master account that would allow reserve custody at the central bank. (economictimes.indiatimes.com)
