US Regulators Open Door for Crypto Trust Banks with Ripple, Circle AllinCrypto December 15, 2025
US regulators have taken a new, major step towards integrating web3 firms into the traditional financial system, with the Office of the Comptroller of the Currency (OCC) granting conditional approval for top crypto companies to operate national trust banks.
The most notable to receive the approval are Ripple and Circle, alongside Paxos, BitGo, and Fidelity Digital Assets.
The move signals a growing willingness by US authorities to bring large digital asset firms under federal banking oversight as part of SEC Chair Paul Atkins’ crypto push.
What Crypto National Trust Charters Mean for Ripple and Circle
Under the approvals, Circle and Ripple will be able to establish national trust banks. A Ripple National Trust Bank would allow the firm to custody assets, facilitate payments, and settle transactions nationwide with ease.
Such TradFi licenses are close to full banking powers as possible, but they do not allow for deposit-taking or lending with customer funds not covered by FDIC insurance.
As a crypto firm, Ripple would be able to deliver a powerful regulatory foothold from within the web3 industry while silently competing with Circle for domination.
National trust bank charters are narrower than full-service bank licenses, but are strategically important for web3 firms. Charters enable crypto firms to operate across states under a single federal regulator, reducing legal complexities and compliance issues.
For stablecoin issuers like Circle, the charter will boost their credibility when it comes to custody and settlement. For Ripple, it will help realize its desire to merge and bridge blockchain-based payments with regulated finance rails. Alongside the XRP token, there may be a chance for Ripple’s RLUSD stablecoin to find use cases. The token recently surpassed a $1.2 billion market capitalization.
Firms must meet OCC capital and liquidity requirements, restrict activities to trust functions, and comply with new federal rules such as the GENIUS Act, which establishes a framework for dollar-backed stablecoins.
Implications for the XRP Ledger in 2026
Looking ahead at 2026, Ripple’s trust bank approval could have large implications for the XRP Ledger and token when it comes to institutional partners and retail usage.
A federally regulated Ripple trust bank could act as a gateway for institutions to connect to the XRPL for payments, tokenization, or liquidity management.
Circle will also benefit, and it could incorporate the Circle Payment Network for fast, cross-border payments. The Circle Payment Network has been seen as a close competitor to Ripple Payments, both aiming to work with banks and institutional players to bring fast, international transactions with near-zero fees.
A lot will depend on whether Ripple leverages its trust bank to drive real transaction volume, institutional adoption, and new financial products on the XRPL.
If successful, the OCC’s decision could mark another turning point for Ripple, which has been on a roll throughout 2025, making multiple institutional acquisitions and partnerships, including the acquisition of Hidden Road, one of the US’s largest prime brokers.
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