Ripple has had two significant wins in two days: final approval for its own national trust bank, and a deal with Robinhood to use its stablecoin and services.
Final approval for Ripple’s trust bank
Ripple said on Monday that the Office of the Comptroller of the Currency, which supervises national banks in the US, has given final approval to Ripple National Trust Bank. The regulator had granted conditional approval in December 2025.
Once it opens, the bank will manage the segregated reserves backing RLUSD, Ripple’s dollar stablecoin, and act as collateral trustee for those reserves on behalf of holders. It will also offer custody of digital assets to businesses.
RLUSD will still be issued by Standard Custody & Trust Company, which is regulated by the New York Department of Financial Services. That places the stablecoin under both state and federal oversight.
RLUSD has a market value of about $2.6 billion, according to CoinGecko. It launched in December 2024, and BNY is its main reserve custodian.
“The revolution isn’t happening outside the system. It’s happening from within it,” Ripple chief executive Brad Garlinghouse wrote on X.
Robinhood signs up
On Tuesday, Robinhood said it would use three Ripple products.
RLUSD went live on Robinhood Chain and on Bitstamp, the exchange Robinhood bought in 2025, and is expected to reach the main Robinhood app later this year. Robinhood will also use RLUSD on the XRP Ledger to settle trades for Bitstamp’s institutional clients.
Robinhood will run its global treasury operations on Ripple Treasury, software that handles payments, cash forecasting and risk management.
It will also use Ripple Prime, Ripple’s prime brokerage, for financing. Ripple Prime already provides Bitstamp with lending and margin financing across about 20 digital assets, and plans to add perpetual futures trading on Bitstamp later this year.
“Utility is what moves stablecoins forward,” said Johann Kerbrat, general manager of Robinhood Crypto and International.
The pushback
The crypto trust charters face opposition. Senator Elizabeth Warren has written to Comptroller Jonathan Gould arguing that the approvals breach the National Bank Act, calling the companies “effectively crypto banks.”
Earlier this month, the Independent Community Bankers of America sued the OCC in federal court over the charters. Circle, Paxos, Fidelity Digital Assets and BitGo received conditional approvals alongside Ripple in December 2025.
What happens next
The trust bank still has to begin operations. The legal challenge from community banks is a key risk to the charters, while RLUSD’s arrival in the main Robinhood app later this year would put it in front of the company’s 28.6 million funded customers.
