Ripple Seeks OCC Banking License with Trust Bank Application
- Ripple’s OCC trust bank bid aims for federal oversight of RLUSD settlement services.
- XRP omission leads to questions on whether future charter updates will reference it.
- Charter review may conclude alongside ETF rulings, intensifying regulatory pressure.
Ripple Labs formally applied to the U.S. Office of the Comptroller of the Currency, seeking approval to charter a federally regulated institution called Ripple National Trust Bank in New York.
The application public review started in early October with XRP holders viewing it as a turning point in the company’s U.S. regulatory positioning. The submission outlines plans to operate under full federal supervision without functioning as a traditional retail lender.
Limited Purpose Charter on Stablecoin Reserves
Documents released under Volume 1 of the public filing confirm Ripple’s intent to operate as a limited-purpose national trust bank rather than a consumer-facing institution. According to insights shared by XRP enthusiast Wrathofkahneman, the proposed entity would not accept deposits or issue loans.
Instead, it would focus on fiduciary responsibilities such as asset custody and infrastructure management. The filing names Senior Director of Regulatory Compliance Brian Spahn as the lead contact.
It also lists Chief Legal Officer Stuart Alderoty as one of five organizers who will form the bank’s initial board of directors. Notably, the charter positions the bank to manage reserves for Ripple’s RLUSD stablecoin and provide settlement support for tokenized financial services.
That structure aligns with previous comments by trader Amonyx, who stated that approval would allow Ripple to expand into regulated financial products beyond cross-border payments.
XRP Left Unmentioned, but Speculation Continues
The filing makes no direct reference to XRP, a detail analysts described as intentional rather than dismissive. Wrathofkahneman suggested that Ripple may have excluded the token to avoid creating regulatory confusion between a supervised trust bank and a publicly traded digital asset.
However, he clarified that the omission does not restrict future XRP integration once approvals are secured. That uncertainty has divided investor expectations. Some argue that granting a banking license could increase institutional confidence in XRP by associating it with federally supervised infrastructure.
Others are cautious due to the absence of clear references to XRP within the documentation. Despite that gap, XRP markets have held major support zones in recent weeks, adding to anticipation ahead of regulatory decisions.
Related: SBI Ripple Asia Teams Up with Tobu for Travel Payment: Report
Regulatory Timeline Aligns With ETF Decisions
Public commentary on the application closed on August 4, 2025, allowing the OCC to enter its formal review phase. Legal analyst Bill Morgan noted that standard review procedures typically conclude within 120 days of the comment deadline.
That estimate places a potential decision window between late October and early November. Morgan noted that the timeline coincides with pending spot ETF approvals involving multiple digital assets, including proposals tied to XRP.
He described the setup as a “perfect storm” for regulatory convergence. However, additional coordination with the Federal Reserve could extend the process toward 180 days if Ripple’s request for Fed master account access is considered alongside the charter review.
Recent trends show other crypto companies, including Circle, Coinbase, and Paxos, pursuing similar federal structures to expand their operating capabilities within U.S. banking systems. That change indicates a broader transition from payment providers to full-service infrastructure entities pursuing direct access to central bank settlement methods.
Meanwhile, Ripple’s filing shows a shift from defensive legal positioning toward proactive integration with federal banking frameworks. The application outlines plans to operate a business-to-business infrastructure model centered on stablecoin custody, asset management, and tokenized settlement services.
It confirms ownership under Ripple Labs while disclosing that private stock will be issued to executives, a structure often associated with companies preparing for public listings. Although approval remains pending, the filing’s release under public review is the company’s clearest step toward embedding its blockchain systems within traditional financial infrastructure.
