Ripple Receives Final Approval from the OCC (Office of the Comptroller of the Currency) to Establish a National Trust Bank! According to multiple media outlets including WatcherGuru and Coin Bureau, Ripple has received final approval from the OCC to establish a National Trust Bank, completing the process that began with conditional approval last December. 1️⃣ This bank will manage the RLUSD reserve and provide custody services for corporate digital assets, essentially taking back control of the reserve management layer. 2️⃣ This trust bank will not accept deposits or make loans. Don't mistake its license for that of a regular commercial bank, and certainly don't equate it with a guarantee of safety. Therefore, in the stablecoin sector, the competition seems to be shifting from issuance size to where the reserves are held, who will regulate them, and how responsibility is divided. Obtaining a license and ensuring the credibility of the reserves are becoming increasingly important.