Garlinghouse with ‘huge news’ for Ripple: National Trust Bank approval secured

Garlinghouse said this is a huge step forward.

Brad Garlinghouse, CEO of Ripple, announced a few minutes ago that the company he leads has received conditional approval from the US Office of the Comptroller of the Monet, a national agency created to ensure a safe and sound national banking system, to charter the Ripple National Trust Bank.

Moreover, Circle received similar approval, while BitGo, Fidelity and Paxos had their state-chartered trust companies converted to the federal system, as journalist Eleanor Terrett explained.

🚨More context is added here: The @USOCCThe conditional approvals include both newly established (de novo) national trust banks and state-chartered trust companies that are converting to the federal system.

Once again there are approvals @Ripple National Trust Bank and first national digital currency… https://t.co/yWIxhNkcKi

—Eleanor Terrett (@EleanorTerrett) December 12, 2025

She added that Comptroller Jonathan Gould explained that each application had undergone a standard “rigorous” assessment to ensure all businesses had met additional conditions before becoming fully operational. He reportedly noted that the new entrants “help modernize and diversify the banking system and broaden access to innovative financial products.”

Garlinghouse took advantage of the opportunity lash out against the traditional banking system and against those who fight against more innovative companies like his.

“To the bank lobbyists: Your anti-competitive tactics are transparent. You’ve complained that crypto doesn’t play by the same rules, but here is the crypto industry – directly under the supervision and standards of the OCC – prioritizing compliance, trust and innovation for the benefit of consumers. What are you so afraid of?”

He described this development as “big news” for Ripple and its ecosystem, as it is a “huge step forward” for the native stablecoin (RLUSD), which sets the “highest standard for stablecoin compliance with both federal (OCC) and state oversight (NYDFS).