National Trust Bank Approval Secured

Garlinghouse said this is a massive step forward.

Ripple CEO Brad Garlinghouse announced minutes ago that the company he runs had received conditional approval from the US Office of the Comptroller of the Currency, a national agency created to ensure a safe and sound national banking system, to charter Ripple National Trust Bank.

In addition, Circle received similar approval, while BitGo, Fidelity, and Paxos had their state-chartered trust companies convert to the federal system, as journalist Eleanor Terrett explained.

🚨Adding more context here: The @USOCC‘s conditional approvals span both newly created (de novo) national trust banks and state-chartered trust companies converting into the federal system.

De novo approvals are @Ripple National Trust Bank and First National Digital Currency… https://t.co/yWIxhNkcKi

— Eleanor Terrett (@EleanorTerrett) December 12, 2025

She added that Comptroller Jonathan Gould explained that each application went through a standard “rigorous” review, ensuring that all companies had met additional conditions before becoming fully operational. He reportedly noted that the new entrants “help modernize and diversify the banking system and broaden access to innovative financial products.”

Garlinghouse used the opportunity to lash out at the traditional banking system and those fighting against more innovative companies such as his own.

“To the banking lobbyists – your anti-competitive tactics are transparent. You’ve complained that crypto isn’t playing by the same rules, but here’s the crypto industry – directly under the OCC’s supervision and standards – prioritizing compliance, trust and innovation to the benefit of consumers. What are you so afraid of?”

He described this development as “huge news” for Ripple and its ecosystem, as it’s a “massive step forward” for the native stablecoin (RLUSD), which sets the “highest standard for stablecoin compliance with both federal (OCC) and state (NYDFS) oversight.”