Ripple’s OCC Banking License Application Is Now Available. Here Are the Details

Ripple’s ambition to expand its financial infrastructure took a formal step with the release of Volume 1 of its Interagency Charter Application, submitted to the Office of the Comptroller of the Currency (OCC).

WrathofKahneman (@WKahneman), a crypto commentator on X, shared an analysis of the document, which outlines the company’s proposal to establish Ripple National Trust Bank.

This is a limited-purpose national trust bank that would operate as a wholly owned subsidiary of Ripple Labs and be headquartered in New York. Though Ripple has been synonymous with the digital asset XRP, the application focuses more on its native stablecoin RLUSD.

The Purpose of Ripple’s Bank

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This positions the bank squarely within a business-to-business (B2B) framework, focused on custody, tokenization infrastructure, and stablecoin management, rather than retail banking.

Confidential Strategy and Potential IPO

Another dimension to the filing relates to Ripple’s internal structure and compensation plans. The application references a confidential stock benefit plan included in an unpublished exhibit, indicating that the company will issue private stock to executives and insiders.

Ripple’s Commitment to Experience and Expertise

It also includes Stuart Alderoty, Ripple’s Chief Legal Officer, with over 35 years in regulatory and legal leadership across major financial institutions, Timothy Keaney, a former Vice Chairman of BNY Mellon, and David Puth, former CEO of CLS Group and Centre Consortium. Together, they will form the initial five-member board of directors, with Ripple retaining full ownership of the entity.

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