Ripple Wins Final US Approval for National Trust Bank
The approval clears the way for Ripple to manage reserves backing its RLUSD stablecoin and provide digital asset custody.
Ripple has secured final approval from the Office of the Comptroller of the Currency for its national trust bank, according to Cointelegraph. The decision allows the company to join a growing list of crypto firms gaining a formal foothold in the United States banking system.
The regulatory greenlight enables Ripple to manage the financial reserves backing its RLUSD stablecoin. Additionally, the national trust bank authorization permits the firm to provide digital asset custody services directly.
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Key facts
- Ripple secured final OCC approval for its national trust bank.
- The authorization clears the way to manage RLUSD stablecoin reserves.
- The firm will also provide digital asset custody services.
Source: cointelegraph.com
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