Ripple disclosed on Oct. 26 that the Office of the Comptroller of the Currency had given final approval for Ripple National Trust Bank. The approval completes the bank’s organization process, but it has not yet opened. When it opens, the bank is designed to manage reserves for RLUSD holders and provide digital asset custody to enterprises.
Standard Custody & Trust Company, which is regulated in New York, will continue to issue RLUSD. Ripple says the stablecoin already supports its payments operations and serves as collateral in its prime brokerage business. A separate planned trading-collateral integration with LMAX Group remains subject to testing, documentation and applicable approvals.
