Ripple has filed applications for a U.S. national trust bank charter and Federal Reserve master account, aiming to solidify its regulatory standing and improve payment settlement infrastructure for its RLUSD stablecoin.
The proposed Ripple National Trust Bank would operate under Office of the Comptroller of the Currency (OCC) oversight, focusing on commercial banking services, RLUSD reserve management, and fiduciary solutions for digital asset payments. A Federal Reserve master account would provide direct access to central bank payment rails, reducing costs by eliminating intermediary banks.
The planned institution will feature a five-member governance board, with Ripple Chief Legal Officer Stuart Alderoty confirmed as one of the organizers. Application documents focus exclusively on banking operations with no explicit mention of Ripple’s XRP cryptocurrency, though analysts speculate it remains strategically relevant.
Approval would subject Ripple to direct OCC supervision, requiring strict adherence to U.S. banking regulations. This initiative underscores the firm’s push to position RLUSD as a compliant dollar-backed solution within traditional financial frameworks.