Ripple wins final U.S. approval for national trust bank

The Office of the Comptroller of the Currency has approved Ripple National Trust Bank, allowing the cryptocurrency company to operate a specialized bank under federal supervision. The bank will manage reserves backing Ripple's RLUSD stablecoin and provide regulated custody services for institutional clients. RLUSD, launched in December 2024, has grown to about $2.5 billion in market value and is backed by dollar deposits, U.S. government securities and other cash-like assets.