Ripple Secures OCC Bank Charter and Strikes Deals With BNY and Robinhood to Drive RLUSD Adoption

Ripple announced a cluster of major moves on October 27, capping them with final approval from the US Office of the Comptroller of the Currency for Ripple National Trust Bank. The federal charter, granted by the OCC, gives Ripple a federally regulated venue for its financial technology stack and is expected to primarily benefit RLUSD, its dollar-backed stablecoin, which now carries a market value of approximately $2.5 billion.

Ripple expanded its partnership with BNY, with the bank adding both XRP and RLUSD to its Digital Asset Custody platform for institutional clients. The two companies are also working toward allowing BNY clients to mint and redeem RLUSD directly through the bank, and they are exploring tokenized trade finance applications on the XRP Ledger, including a supply chain finance initiative developed with C2FO to finance approved invoices and accelerate supplier payments.

Separately, Robinhood announced a partnership with Ripple to bring RLUSD to its roughly 28.6 million funded customers later this year, with XRP rising more than 2% and Robinhood shares jumping over 3% on the news. The deal integrates Ripple's stablecoin, treasury management, and institutional trading services into Robinhood's operations, including its app and Robinhood Chain. Ripple President Monica Long said large institutional capital is now seeking stablecoins with genuine utility in settlement and payments rather than speculative tokens. Notably, Robinhood had previously helped launch a rival dollar-backed token, USDG, making the RLUSD agreement a signal of the stablecoin's growing institutional traction despite that competing backing.