Gold Holdings Surpass U.S. Treasuries. Photo by BeInCrypto The OCC today conditionally approved five digital asset-oriented companies for national trust bank charters, signaling a measured but tangible expansion of crypto firms into the federal banking system. The decision challenges claims from parts of the banking industry that crypto cannot comply with regulatory standards. However, it also complicates the sector’s own narrative of a coordinated effort to cut it off from financial services. The Five F ...

Core Insights - Ripple has received conditional approval from the United States Office of the Comptroller of the Currency (OCC) to operate as a national trust bank, marking a significant milestone for the company in its efforts to integrate with the U.S. banking system [1][2] Group 1: Regulatory Approval - The OCC conditionally approved five national trust bank charter applications, including Ripple, BitGo, Fidelity Digital Assets, and Paxos, following a rigorous review process [2] - The newly approved institutions will join approximately 60 national trust banks currently supervised by the OCC, promoting competition, innovation, and consumer access to financial services [3] Group 2: Trust Bank Functionality - National trust banks are primarily used for custody, settlement, and fiduciary services, making them suitable for crypto and tokenized assets, allowing companies like Ripple to gain federal oversight without the risks associated with full consumer banking [4] Group 3: Company Response and Market Reaction - Ripple CEO Brad Garlinghouse stated that the approval would initially support Ripple's U.S. dollar stablecoin, RLUSD, and would be subject to federal oversight from the OCC and state-level supervision by the New York Department of Financial Services [5] - Garlinghouse criticized traditional banking lobbyists, asserting that the crypto industry is prioritizing compliance and innovation under OCC supervision [6] - Following the announcement, XRP, Ripple's native token, traded around $2, showing a slight increase of 0.8% in the past hour and a 0.6% rise overnight [6]

Core Insights - The integration of crypto companies into the financial system is advancing, with five companies receiving conditional approval for national banking charters [1][2] - National bank charters provide significant advantages, including federal oversight and access to the Federal Reserve system, enhancing operational capabilities for crypto firms [2][5] Group 1: National Banking Charters - Five crypto companies, including Circle's First National Digital Currency Bank and Ripple National Trust Bank, have received conditional approval for national banking charters [1] - Companies like BitGo, Fidelity Digital Assets, and Paxos Trust Company are awaiting approval to transition from state charters to national charters [2] - National charters allow crypto companies to participate directly in payment systems, access the Fed's discount window, and potentially qualify for FDIC insurance [3][5] Group 2: Advantages of National Charters - National bank charters represent a significant upgrade from state trust company status, which operates under state regulations and lacks direct access to the Federal Reserve [4] - National banks benefit from federal oversight by the OCC and can establish branches across all 50 states without needing separate state licenses [5] - The federal banking system comprises over 1,000 national banks, controlling approximately 67% of all banking activity in the US, with combined assets exceeding $17 trillion [5] Group 3: Stablecoin Market Growth - The stablecoin market is experiencing rapid growth, reaching nearly $314 billion in 2025, with over $100 billion gained since January [6] - This growth is attributed to the Genius Act, which established the first federal regulatory framework for stablecoin issuers [6]

The Daily: Ripple, Circle and BitGo win conditional approval for US banking charters, Hex Trust to issue and custody wrapped XRP, and more https://t.co/xn1A0QBI9d ...

The Office of the Comptroller of the Currency (OCC) gave the green light on Friday for five crypto companies to have national trust bank charters under certain conditions, bringing some of the industry's biggest players ever closer to the traditional banking sector. Under conditions, the OCC approved applications submitted earlier this year by stablecoin issuer Circle Internet Group (CRCL) and crypto firm Ripple (RIPL.PVT) to establish their national trust banks, First National Digital Currency Bank and R ...

RT nic carter (@nic_carter)huge release today. OCC approves five national trust charters. two de novo (Ripple and First National) and three conversions from state charters (Fidelity, BitGo, Paxos).Note that Trusts don't take deposits or make loans like commercial banks, but they can do qualified custody, execute trades as agents, payments, stablecoin reserves, much more.https://t.co/wx2TsSl0BE ...

🔥 JUST IN: BitGo has received regulatory approval to operate a banking business. https://t.co/W5RQCfAzT5 ...

Core Insights - The Office of the Comptroller of the Currency (OCC) has conditionally approved national trust bank charters for five major crypto companies, marking a significant shift in crypto regulation [1][2][4] Group 1: OCC Approval Details - The OCC granted conditional approvals for two new national trust banks: First National Digital Currency Bank and Ripple National Trust Bank [2] - Existing state trust companies BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company received conditional approval to convert to national trust banks [2] Group 2: Impact on the Crypto Industry - The approval is seen as beneficial for consumers, the banking industry, and the economy, according to Comptroller of the Currency Jonathan V. Gould [3] - This move opens opportunities for U.S. banks to act as intermediaries in the crypto space, potentially enhancing innovation in financial services [4] Group 3: Trends in Charter Applications - There has been a dramatic increase in charter applications in 2025, with 14 companies applying, compared to an average of fewer than four per year from 2011 to 2024 [5] - This surge indicates a growing interest in federal banking supervision among crypto firms [5] Group 4: Company-Specific Developments - Circle's approval allows it to establish First National Digital Currency Bank, which will manage the USDC Reserve and provide digital asset custody services [6] - Ripple's charter positions it to operate as a federally regulated digital asset custodian, enhancing regulatory clarity for its operations [7] - BitGo can now offer regulated crypto services nationwide, simplifying its compliance with state licensing requirements [8] Group 5: Broader Market Context - The OCC's decision aligns with trends in institutional adoption of crypto and regulatory activities, such as Nasdaq's SEC filing to trade tokenized equities and ETPs [9]

🏦 POLICY: Five Crypto Firms Win Initial Approvals as Trust Banks, Including Ripple, Circle, BitGo@sndr_krisztian & @jesseahamilton report:https://t.co/4oAuIl5R8H ...

Core Viewpoint - Major crypto companies, including Ripple and Circle, have received preliminary approval from a top banking regulator to establish national trust banks, which could enhance the integration of digital assets into the banking system [1][2]. Group 1: Regulatory Approval - The Office of the Comptroller of the Currency (OCC) conditionally approved national trust bank charters for Circle and Ripple, along with applications from BitGo, Paxos, and Fidelity to convert state trust bank charters to national charters [2]. - Final approval from the OCC is still required before these trust banks can commence operations [2]. Group 2: Operational Capabilities - If finalized, the national trust bank charters will enable these companies to manage and hold assets for customers and facilitate faster payment settlements [3]. - The charters do not permit these companies to accept cash deposits or issue loans [3]. Group 3: Industry Perspectives - Comptroller of the Currency Jonathan Gould stated that new entrants into the federal banking sector are beneficial for consumers, the banking industry, and the economy [4]. - The banking industry has expressed concerns, urging the OCC to reject some applications, citing potential systemic risks and a preference for lighter regulatory oversight by crypto companies [4].