The federally supervised bank will manage RLUSD's reserves and offer custody, as banking groups fight crypto charters in court.
- Ripple has received final OCC approval for its federally supervised Ripple National Trust Bank, which will manage reserves for its RLUSD stablecoin.
- This approval allows Ripple to offer fiduciary digital asset custody services and places RLUSD under both state and federal supervision.
- The move comes amidst ongoing legal challenges from banking groups and political opposition questioning the OCC's charter approvals for crypto firms.
Topics: Asset types, Jurisdictions, Banks bankingsystems, Stablecoins digital cash, Regulatory sandboxes pilots, Custody asset servicing
Tags: #ripple #rlusd #stablecoin #occ #ripplenationaltrustbank #custody #reserves #nydfs #banking #regulation