"The OCC's final rule went live on April 1 and expanded the scope of national trust banks to include activities like digital asset custody alongside traditional fiduciary services. This operational framework allows Ripple to connect its bank to its broader payments infrastructure."
"Before April 1, national trust bank charters were scoped primarily around fiduciary activities. The bank can now build toward offering federally supervised custody for reserves and institutional client assets on a framework that was specifically designed for those services."
"When the biggest names in banking are considering legal action to stop you from getting a charter, it's a sign they see Ripple and others as a competitive threat to their core business."
"XRP's legal status as a digital commodity comes from the SEC and CFTC's joint classification on March 17, not from the bank charter itself."
Ripple's national trust bank charter received conditional approval in December 2025, with the OCC's final rule expanding its scope on April 1. This allows the bank to provide digital asset custody alongside traditional fiduciary services. The operational framework enables Ripple to connect its bank to its broader payments infrastructure, offering federally supervised custody for digital assets. Anchorage Digital is currently the only crypto firm with full national bank status. The approval indicates Ripple's potential threat to traditional banking, while XRP's legal status as a digital commodity is determined by the SEC and CFTC's classification.
Read at 24/7 Wall St.
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