Ripple Secures Final OCC Approval for RLUSD Trust Bank
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Ripple has received final OCC approval for a trust bank that will oversee reserves for its $2.6 billion RLUSD stablecoin and provide custody services.
Ripple has secured final approval from the Office of the Comptroller of the Currency for a trust bank supporting RLUSD, its $2.6 billion stablecoin.
The federally supervised institution will be responsible for managing RLUSD’s reserves and offering custody services.
The approval comes amid legal challenges from banking groups opposing crypto-related bank charters.
Source: Decrypt
