Ripple Secures Final US Bank Approval and Expands BNY Partnership

Ripple has received final approval to establish a national trust bank. The Office of the Comptroller of the Currency (OCC) gave the green light for what’s called the Ripple National Trust Bank (RNTB) on 26 October. This doesn’t make Ripple a classic full-service bank but rather gives it a specialised banking subsidiary. While it’s a genuine federally chartered banking institution, what it can offer is quite different from a standard bank. Ripple National Trust Bank will manage the reserves backing RLUSD , oversee those assets on behalf of stablecoin holders and provide digital asset custody services to institutional clients.

Source: Crypto News Australia