Ripple Seeks Federally Regulated Trust Bank Amid Growing Regulatory Shift

Ripple is advancing its application to establish a federally regulated national trust bank, benefiting from the U.S. Office of the Comptroller of the Currency's (OCC) recent efforts to simplify the national charter process for new banks, including digital-asset companies.

The OCC has granted preliminary conditional approval to Ripple and other crypto firms like Circle and BitGo, signaling a shift toward integrating crypto businesses into the federal banking system.

Ripple's proposed trust bank will focus on institutional custody and settlement services rather than traditional retail banking. While it still needs to meet final regulatory requirements, this move reflects a broader regulatory trend to bring more crypto activities under federal oversight.