Summary
CoinDesk reports that the OCC has given final approval for Ripple to establish Ripple National Trust Bank (RNTB) as a federally regulated trust bank. RLUSD is issued by Ripple's New York-regulated Standard Custody & Trust Company, while RNTB will manage reserves and serve as trustee and custodian,…
Key points
- Stablecoin reserves and custody have long been a barrier to institutional adoption; the federal trust bank structure brings issuance, custody and reserve management into the existing regulatory vocabulary.
- This is a landmark case of a stablecoin issuer bringing reserve management into the federal regulatory framework, and will influence other issuers' compliance paths.
- For institutional investors and payment providers, regulatory ownership of custody and reserves is clearer, but follow-up product and cross-border compliance details still need watching.
Editorial note
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