Ripple’s Bank Passport Is Final: $XRP Heads Into Swell With More Regulatory Cover

Ripple secured final U.S. approval for Ripple National Trust Bank on October 26, strengthening the company’s regulated financial-services position as Swell 2026 opens in New York.

The Office of the Comptroller of the Currency granted the approval after issuing conditional authorization in December 2025. Ripple National Trust Bank will manage segregated reserves backing Ripple USD (RLUSD), serve as collateral trustee for RLUSD holders, and provide fiduciary digital asset custody services.

RLUSD will remain issued by Standard Custody & Trust Company under New York regulation. The bank approval adds federal oversight to Ripple’s stablecoin and institutional-services infrastructure, while also expanding the company’s capabilities in institutional custody.

Ripple reported that RLUSD reached a $2.5 billion market cap after its launch in December 2024. The milestone arrives ahead of Swell 2026, with $XRP investors monitoring Ripple’s regulatory progress and the broader institutional adoption of its services.