Ripple is a bold step towards established finance An critical milestone is approaching. The company’s application to the U.S. Office of the Comptroller of the Currency (OCC) for a charter for a national trust bank, proposed to be called Ripple National Trust Bank, has entered the final consideration period.
According to OCC official filings, the standard 120-day processing period from application publication will end this Friday, October 31.
Ripple’s application for a National Trust Bank license
On July 2, 2025, Ripple filed an application for a national trust bank charter with the Office of the Comptroller of the Currency (OCC). The proposal was for a domestic custodian bank, not a established bank, and is intended to provide custodial activities such as custody and infrastructure for the RLUSD stablecoin. The application was submitted in early July and a public review phase was introduced in October.
The Ripple National Trust Bank App represents Ripple Labs’ strategic expansion into federally supervised financial services. If approved, the charter would authorize the company to operate a national trust bank with headquarters at 111-119 West 19th Street in Modern York. The application lists senior company figures such as Stuart Alderoty, Timothy Keaney, John McDonald, David Puth and John Zavaglia as organizers, and Ripple Labs Inc. is a sponsoring institution based in San Francisco.
This move expands the company’s business beyond cross-border payments to include end-to-end institutional care and settlement. This is also in line with the company’s ongoing efforts to establish the RLUSD stablecoin as a regulated, clear digital dollar. As Ripple CEO Brad Garlinghouse noted, if approved, the company will have both state and federal oversight, providing a up-to-date and unique benchmark for confidence in the stablecoin market. This comment was created by the CEO of Ripple in July 2025 as confirmation of submitting a license application.
120-day review window and what’s next
Under OCC procedures, applications for a national trust bank charter are subject to a 120-day review to evaluate management, capitalization, compliance programs and management suitability. Ripple’s application entered this timeline after its public filing, which means the consideration period ends on October 31. At this point, the OCC may issue a preliminary decision to approve, deny, or extend, depending on whether additional information is needed.
However, ongoing U.S. government shutdown could impact the timing of the company’s license review. The payment company’s app is part of a growing list cryptocurrency-based companies seeking to become a national custodian bank as the digital assets industry moves closer to full regulatory integration with established finance. Companies like Circle, Crypto.com, Coinbase and Paxos also submitted an application U.S. Office of the Comptroller of the Currency (OCC) on National Custody Bank Statutes.
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