Building on the OCC's December 12 conditional approvals for crypto firms including Ripple, Fidelity, and others—which drew sharp criticism from banking groups—the charter enables Ripple to self-custody its $1.3 billion RLUSD stablecoin and offer services to others, signaling deeper crypto-banking integration despite regulatory concerns.
As detailed in prior coverage of the OCC's December 12, 2025, approvals for national trust bank charters to Ripple, Fidelity Digital Assets, Paxos, BitGo, and Circle, banking trade groups like the American Bankers Association and Independent Community Bankers of America have voiced concerns over regulatory arbitrage and financial stability risks.
For Ripple specifically, the conditional charter—following the standard review for traditional banks—allows the firm to transfer custody of its Ripple USD (RLUSD) assets, currently valued at $1.3 billion, from BNY Mellon to its own operations. This positions Ripple to provide custodial services to other companies amid the stablecoin surge. The company's valuation has surpassed $40 billion, bolstered by investments from Citadel and Fortress. RLUSD has secured approvals in Middle Eastern markets, with plans to expand to Solana and Ethereum via a Hex Trust bridge.
Market-wise, XRP has declined to $2, down over 40% from its yearly high and trailing Bitcoin and Ether. However, XRP ETFs have amassed $1.1 billion in assets, outpacing Solana ETFs. Technical charts show an inverse head-and-shoulders pattern, eyeing $3 on a breakout above the descending neckline, though a fall below $1.18227 would negate the bullish signal.
This Ripple milestone highlights ongoing tensions and progress in crypto's convergence with traditional finance under federal oversight.
