Ripple Secures Final OCC Approval for National Trust Bank Charter
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· body · New information from a source
The Office of the Comptroller of the Currency approved Ripple's national trust bank application, clearing the way for the company to manage reserves backing its RLUSD stablecoin and provide fiduciary digital asset custody services.RLUSD will continue to be issued by Ripple's New York-regulated entity, with the trust bank handling reserve management and custody operations.- Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, according to The Defiant and Cointelegraph.
- The charter allows Ripple to manage the reserves backing its RLUSD stablecoin, according to Cointelegraph.
- It also permits Ripple to provide fiduciary digital asset custody services, according to both The Defiant and Cointelegraph.
- RLUSD will keep its existing New York-regulated issuer even as the new national trust bank takes over reserve management and custody functions, according to The Defiant.
- The approval marks a formal step in Ripple's push to build out regulated infrastructure around RLUSD, combining a state-level issuer with a federally chartered trust bank for reserves and custody, according to the two outlets.
· summary · New information from a source
Ripple won final US regulatory approval to operate a national trust bank managing RLUSD stablecoin reserves and digital asset custody.- Ripple has won final approval from the OCC for a national trust bank charter, letting it manage RLUSD stablecoin reserves and offer digital asset custody.
· headline · New information from a source
Ripple Receives Final OCC Approval to Operate National Trust Bank for RLUSD Reserves and Custody- Ripple Secures Final OCC Approval for National Trust Bank Charter
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, according to The Defiant and Cointelegraph.
- The charter allows Ripple to manage the reserves backing its RLUSD stablecoin, according to Cointelegraph.
- It also permits Ripple to provide fiduciary digital asset custody services, according to both The Defiant and Cointelegraph.
- RLUSD will keep its existing New York-regulated issuer even as the new national trust bank takes over reserve management and custody functions, according to The Defiant.
The approval marks a formal step in Ripple’s push to build out regulated infrastructure around RLUSD, combining a state-level issuer with a federally chartered trust bank for reserves and custody, according to the two outlets.
Sources: The Defiant, Cointelegraph
This article is for information only and is not financial advice.
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Story so far 2 updates
- flashRipple Receives Final OCC Approval to Operate National Trust Bank for RLUSD Reserves and Custodyfirst reported · 2 sourcesthedefiant.io · cointelegraph.com
- storyRipple Secures Final OCC Approval for National Trust Bank Charterupdate · 2 sourcesthedefiant.io · cointelegraph.com
Ripple Office of the Comptroller of the Currency
