The OCC has approved Ripple to form a national trust bank under federal supervision. The charter does not permit retail deposits or commercial lending, leaving customer balances outside FDIC insurance. Instead, the entity will manage reserve assets backing the $2.6B RLUSD stablecoin and provide institutional custody, operating alongside state-level issuance via Standard Custody. Supporters argue federal oversight strengthens stablecoin transparency and reserve security. Conversely, banking associations contend that trust charters grant crypto firms systemic access without the rigorous capital rules required of commercial banks.