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Ripple, Circle Get Green Light for National Trust Banks

12/13/2025

Summary

Story summary

On December 12, 2025, Ripple and Circle received preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish national trust banks, aiming to integrate digital assets into the banking system.
The OCC also conditionally approved applications from BitGo, Paxos, and Fidelity to convert state charters to national ones, with final approval still pending.
The new charters will allow these companies to manage customer assets and expedite payments, but they will not permit cash deposits or loans.
Critics warn that this could increase systemic risk by subjecting crypto firms to lighter regulation.

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Story summary

On December 12, 2025, Ripple and Circle received preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish national trust banks, aiming to integrate digital assets into the banking system.
The OCC also conditionally approved applications from BitGo, Paxos, and Fidelity to convert state charters to national ones, with final approval still pending.
The new charters will allow these companies to manage customer assets and expedite payments, but they will not permit cash deposits or loans.
Critics warn that this could increase systemic risk by subjecting crypto firms to lighter regulation.