OCC Expands National Trust Bank Powers, Boosting Ripple and Crypto Firms’ Access to U.S. Financial System

The U.S. Office of the Comptroller of the Currency (OCC) has finalized a key rule change that expands the services national trust banks can offer, delivering a significant win for Ripple and other crypto companies pursuing national trust charters. The updated regulation clarifies that national trust banks are permitted to conduct non-fiduciary activities alongside traditional fiduciary services, removing lingering uncertainty around their operational scope.

This decision is especially important for crypto firms such as Ripple, Circle, Paxos, and Crypto.com, which have already received conditional approval for national trust bank charters. By explicitly allowing non-fiduciary activities, the OCC opens the door for these companies to provide custody and asset administration services without acting in a fiduciary capacity. Non-fiduciary custody—considered an incidental banking activity—enables firms to safeguard client assets, including cryptocurrencies and securities, without assuming the legal responsibilities of a trustee.

For Ripple, the rule change strengthens its position in the expanding crypto custody market. The blockchain company recently broadened its custody offerings through a partnership with Figment, adding Ethereum and Solana staking services. With clearer regulatory backing, Ripple and similar firms are better positioned to deepen integration between digital assets and traditional finance.

Meanwhile, the Federal Reserve is still evaluating proposals for “skinny master accounts,” which would grant select crypto-focused institutions limited access to the Fed’s payment rails. Fed Governor Chris Waller has indicated that draft rules could be released in the fourth quarter. The proposal has sparked debate, with banking groups warning about potential fraud risks, while crypto advocates argue it would modernize financial infrastructure.

At the same time, Federal Reserve Governor Michelle Bowman confirmed that regulators are collaborating on capital and liquidity standards for stablecoin issuers under the GENIUS Act. She emphasized the importance of regulatory clarity to ensure the U.S. banking system can effectively support digital asset activities, signaling continued momentum for crypto adoption within mainstream finance.