Ripple received final approval on 26 October 2026 for Ripple National Trust Bank, giving it a federally chartered institution for fiduciary and custody activities. The charter does not authorize commercial deposits or loans, and it does not transfer issuance of Ripple’s RLUSD stablecoin to the new bank. RLUSD issuance remains with Standard Custody & Trust Company under New York State Department of Financial Services supervision. BNY is the primary custodian of the dollar deposits and U.S. Treasury reserves backing the stablecoin. The arrangement separates a federal custody role from state-supervised issuance. It also comes as the OCC implements the GENIUS Act’s stablecoin rules and faces a lawsuit from the Independent Community Bankers of America challenging its authority to grant national trust charters to crypto firms. Ripple has separately announced an expanded partnership with BNY and Robinhood focused on institutional custody capabilities and exploring tokenized trade finance.

Modern Treasury applied to the Office of the Comptroller of the Currency on October 5, 2026, to establish a limited-purpose national trust bank focused on stablecoin custody and settlement. The proposed institution would connect stablecoin and fiat transactions with the company’s existing payment infrastructure under direct federal supervision. Its software and payment services would remain separate. The bank would safeguard client assets and facilitate settlement, but would not make commercial loans, accept retail demand deposits or issue a stablecoin. The application follows Modern Treasury’s 2025 acquisition of Beam, which expanded its stablecoin payment capabilities. A national trust charter could provide a single federal framework for authorized custody and fiduciary services. The filing is in the OCC’s initial review and public comment stage. The bank cannot open without final authorization and satisfaction of pre-opening requirements. Modern Treasury’s bid comes amid growing scrutiny of digital-asset trust charters, with traditional banking groups raising concerns about FDIC coverage and banking safeguards.