Ripple CEO Brad Garlinghouse announced a few minutes ago that his company has received conditional approval to form Ripple National Trust Bank from the U.S. Office of the Comptroller of the Currency, a national agency established to ensure the safety and soundness of national banking systems.
Additionally, as journalist Eleanor Terret explained, Circle received similar approval, while Bitgo, Fidelity, and Paxos converted state-chartered trust companies into federal systems.
Adding more context here: @USOCCThe conditional approval extends to both newly formed (de novo) national trust banks and state-chartered trust companies transitioning to the federal system.
De novo approval is @Ripple National Trust Bank and the first national digital currency… https://t.co/yWIxhNkcKi
— Eleanor Terrett (@EleanorTerrett) December 12, 2025
He added that Comptroller Jonathan Gould explained that each application underwent a standard “rigorous” review to ensure all businesses met additional conditions before becoming fully operational. He was quoted as saying that new entrants would “contribute to the modernization and diversification of the banking system and help expand access to innovative financial products.”
Garlinghouse used the opportunity to slam those fighting the traditional banking system and more innovative companies like his own.
“Dear bank lobbyists, your anti-competitive strategy is clear. You complain that cryptocurrencies don’t follow the same rules, but here the crypto industry is directly under OCC oversight and standards, prioritizing compliance, trust, and innovation for the benefit of consumers. What are you so afraid of?”
He said this development is “huge news” for Ripple and its ecosystem, and that it is a “huge step forward” for Native Stablecoin (RLUSD), which sets “the highest standards for stablecoin compliance with both federal (OCC) and state (NYDFS) oversight.”
The post Garlinghouse with ‘Huge News’ for Ripple: National Trust Bank Approval Secured first appeared on CryptoPotato.
