Ripple Inches Closer to Regulated Status with National Trust Bank Approval

Ripple has made significant strides in its journey towards establishing a regulated presence in the financial industry. According to recent reports, the company has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a National Trust Bank.

The National Trust bank charter would enable Ripple to provide regulated safekeeping of digital assets and partner directly with institutional banks, rather than focusing on consumer banking services. This move is seen as part of Ripple's expansion into decentralized finance (DeFi) and infrastructure development.

In related news, the company's RLUSD stablecoin has shown higher liquid reserves than units outstanding, according to recent accounting attestation figures. While this may indicate some minor fluctuations in reserve assets, it suggests that RLUSD remains well-backed by a substantial amount of liquid assets.