Ripple Receives OCC Final Approval to Launch National Trust Bank
Ripple Wins Final OCC Approval to Launch National Trust Bank
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Ripple has received final approval from the Office of the Comptroller of the Currency (OCC) to launch Ripple National Trust Bank and provide digital asset custody and RLUSD reserve management services under federal oversight. The national trust bank charter also allows it to serve as a collateral trustee for relevant assets, but does not permit it to accept deposits or engage in commercial lending.
The trust bank charter defines the business boundaries for digital asset institutions entering the federal regulatory system, covering custody and stablecoin reserve management but not deposit-taking or commercial lending.
Source:Payments Cards & Mobile · paymentsindustryintelligence.com