Circle has achieved significant regulatory progress with final approval from the OCC to establish Circle National Trust, a federally regulated national trust bank, dedicated to handling USDC custody and reserves. This development has triggered renewed discussions within the XRP community regarding Ripple's potential move towards securing its own national trust bank or a reverse takeover of Circle.
On Friday, Circle announced the successful completion of the OCC approval process, positioning itself to offer federally regulated digital asset custody services. This step is seen as integral to enhancing the infrastructure supporting USDC, according to Circle CEO Jeremy Allaire, who emphasized that this charter sets new standards for transparency and governance in the digital asset realm.
As Circle lays the foundation for its banking operations, anticipation grows within the XRP community that Ripple may soon receive the final blessing from the OCC for its own trust bank. The speculation has been amplified by comments from Jake Claver, chairman of Digital Ascension Group, who suggested that Ripple could consider acquiring Circle should it not receive approval in a timely manner.
Ripple's journey towards establishing the Ripple National Trust Bank took an important turn in December 2025 when it secured conditional OCC approval. Ripple CEO Brad Garlinghouse hailed this as a pivotal milestone for the company, linking it to its stablecoin, RLUSD, which would operate under oversight from both the OCC and NYDFS. However, Ripple still faces pre-opening requirements that must be met before full operational authorization is granted.
The latest developments surrounding Circle’s banking charter have rekindled interest in Ripple’s rumored acquisition of the stablecoin issuer. In a June 2025 event, Garlinghouse neither confirmed nor denied the possibility of such an acquisition, commenting on discussions without divulging specifics. His remarks have fueled ongoing speculation about the nature and status of these talks, despite his denial of a $20 billion bid.
This material is for informational purposes only and does not constitute financial advice.
