Ripple Secures Final OCC Approval for National Trust Bank
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Ripple has received final OCC trust bank approval to manage RLUSD reserves and provide fiduciary digital asset custody, The Defiant reports.
Ripple has secured final approval from the Office of the Comptroller of the Currency for a national trust bank, according to The Defiant.
The bank will oversee reserves backing RLUSD and offer digital asset custody in a fiduciary capacity.
RLUSD will continue to be issued by its New York-regulated issuer. The arrangement separates the token’s issuance from the national trust bank’s reserve management and custody responsibilities.
Source: The Defiant
