Ripple’s Strategic Expansion into Traditional Finance
In a significant move towards integrating traditional finance with blockchain technology, Ripple is on the verge of achieving a critical milestone. The company’s application for a national trust bank charter, under the proposed name Ripple National Trust Bank, is currently under the final assessment by the US Office of the Comptroller of the Currency (OCC).
Based on the official filings from the OCC, the standard 120-day review period following the publication of this application is expected to conclude on Friday, October 31.
Ripple’s Ambitious Application for a National Trust Bank Charter
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On July 2, 2025, Ripple made a bold move by applying for a national trust bank charter from the Office of the Comptroller of the Currency (OCC). This charter differs from that of a conventional bank and aims to facilitate fiduciary activities, including custody and infrastructure support for Ripple’s RLUSD stablecoin. The application process, initiated in early July, entered a phase of public scrutiny by October.
This application marks a pivotal moment for Ripple Labs as it seeks to broaden its footprint in federally regulated financial services. Upon approval, the charter will authorize Ripple to operate a national trust bank headquartered at 111-119 West 19th Street, New York City. The application identifies key company figures such as Stuart Alderoty, Timothy Keaney, John McDonald, David Puth, and John Zavaglia as organizers, with Ripple Labs Inc., based in San Francisco, acting as the sponsoring entity.
This initiative is a strategic extension of Ripple’s services beyond cross-border payments, venturing into comprehensive institutional custody and settlement. Moreover, it aligns with Ripple’s objective to establish the RLUSD stablecoin as a regulated and transparent digital currency. Ripple CEO Brad Garlinghouse highlighted that, if approved, this would establish a new standard of trust with both state and federal oversight—a groundbreaking achievement in the stablecoin sector.
Understanding the 120-Day Review Process and Future Steps
The process for reviewing applications for national trust bank charters by the OCC involves a thorough 120-day assessment period. During this time, the application is evaluated based on governance, capitalization, compliance programs, and management suitability. Ripple’s application, having entered this timeline post-filing, is set to complete this review period on October 31. Subsequently, the OCC may issue an initial decision—either an approval, denial, or a request for an extension if further information is deemed necessary.
However, the current US government shutdown could potentially impact the timing of Ripple’s license review. As the digital asset industry progresses towards full regulatory integration with traditional finance, Ripple’s application is part of an increasing number of crypto-focused companies pursuing national trust bank charters. Other notable applicants include Circle, Crypto.com, Coinbase, and Paxos, all seeking similar approvals from the OCC.
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