- Ripple seeks a U.S. charter to launch Ripple National Trust Bank with a B2B focus.
- The firm aims to manage RLUSD reserves and offer fiduciary services through the trust.
- A Federal Reserve master account would streamline payments and reduce settlement costs.
Ripple Labs has formally applied for a national bank charter in the United States through the Office of the Comptroller of the Currency. The company is aiming to launch Ripple National Trust Bank, which will operate as a limited-purpose trust bank under federal regulation.
The proposed entity will focus on providing business-to-business banking services and financial infrastructure. According to the application, the trust bank will support Ripple’s stablecoin RLUSD and related services. This includes reserve management and fiduciary operations aligned with digital asset payments.
Headquarters and Ownership Structure Finalized
Ripple National Trust Bank will be fully owned by Ripple Labs and will be based in New York. The initial board will consist of five organizers. Among them is Ripple’s Chief Legal Officer, Stuart Alderoty, who will also serve on the board.
Alongside the banking license, Ripple is also applying for a Federal Reserve master account. If approved, this would grant Ripple direct access to the Federal Reserve’s payments network. This access would help Ripple settle transactions without relying on intermediary banks and reduce operational costs.
Public Application Details: Structure and Operations
The public Volume 1 release of the application outlines the trust bank’s structural framework and business objectives. While the document does not explicitly mention XRP, the firm’s native token, it confirms the trust bank’s alignment with Ripple’s digital payment ecosystem. Observers have noted that XRP may still have a role in the broader strategy later.
The charter, if approved, will place Ripple under direct supervision by the OCC. This marks a strategic move to align more closely with U.S. regulatory standards after years of uncertainty in the crypto sector. It mirrors a similar path taken by stablecoin issuer Circle in its own charter efforts.
