Ripple Bank Ambitions Gain Ground as OCC Opens Door Wider to Crypto Firms
Ripple's bid to establish a federally regulated trust bank has received a boost from US banking regulators, who are making the national charter process more accessible to digital-asset companies.
The Office of the Comptroller of the Currency (OCC) wants to reverse a decline in new bank formations and provide a clearer route for companies seeking federal charters. In the past 18 months, the OCC has received 40 de novo applications, including national trust bank applications, with many decisions made within 120 days.
OCC Comptroller Jonathan Gould emphasized that companies engaged in legally permissible digital-asset activities should have a path to becoming national banks. Ripple is already advanced in this process, having received preliminary conditional approval for its national trust bank application alongside other digital-asset companies.