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Ripple Receives Final OCC Approval to Establish a National Trust Bank
The U.S. Office of the Comptroller of the Currency (OCC) has granted Ripple final approval to launch a national trust bank. Reserve management for the RLUSD stablecoin and custody services will come under federal supervision.
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According to The Block and Cointelegraph, the OCC has given final approval for the creation of Ripple's national trust bank. This will allow the company to manage the reserves backing the RLUSD stablecoin and to provide digital asset custody services.
Under the described structure, reserve management and custodial storage will fall under federal supervision. The issuance of RLUSD, however, remains with an entity regulated in the state of New York.
Federal supervision of the reserves could increase institutional participants' confidence in the backing of the token. The sources do not provide a launch timeline for the bank or the size of the reserves.
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Fontes que confirmam a notícia · 2
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The Block
Grande veículo · EN · publicado 27 out, 02:28
Cointelegraph
Mídia especializada · EN · publicado 27 out, 00:06