Ripple National Trust Bank Targets Fed Access—Is RLUSD About to Go Full Scale?

A major leap toward regulated crypto banking is underway as Ripple seeks a national trust bank charter to elevate stablecoin credibility and custody standards.

Ripple National Trust Bank Deepens Regulatory Footprint With RLUSD Strategy

Ripple is advancing its regulatory ambitions with an application to establish Ripple National Trust Bank, signaling a deepening push into federally supervised financial infrastructure. The blockchain payments firm filed with the U.S. Office of the Comptroller of the Currency (OCC) earlier this month, seeking a national trust bank charter under control number 2025-Charter-342347. The proposed institution—Ripple National Trust Bank—would be headquartered at 111-119 W. 19th Street, 6th floor, in New York City, operating under charter number 25364.

According to the application, Ripple is requesting trust powers, which would enable the bank to offer digital asset custody and fiduciary services under direct federal supervision. Brian Spahn, based at Ripple’s San Francisco location, is listed as the spokesperson. The OCC opened a public comment period that runs through Aug. 1.

This regulatory step follows Ripple’s announcement earlier this month that it is pursuing a dual licensing model for its stablecoin, Ripple USD (RLUSD), combining state oversight by the New York Department of Financial Services (NYDFS) with potential federal regulation through the OCC. CEO Brad Garlinghouse stated on social media platform X at the time: “True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.”

Ripple’s filing comes amid a broader movement by crypto firms toward bank charters in anticipation of the GENIUS Act, which sets federal rules for stablecoins, requiring full dollar backing, transparency, and compliance with AML/KYC laws. Passed by the Senate, it now awaits House approval. Ripple’s subsidiary, Standard Custody & Trust Company, has also applied for a Federal Reserve master account. Garlinghouse noted: “This access would allow us to hold RLUSD reserves directly with the Fed and provide an additional layer of security to future-proof trust in RLUSD.”

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