Ripple's RLUSD: $2.60 billion on-chain as OCC approves trust bank

Ripple has moved the reserves behind its dollar stablecoin under a federal bank charter. This article sets out what the OCC approved and where RLUSD stands in our on-chain count.

What did the OCC approve for Ripple?

The Office of the Comptroller of the Currency announced on Oct. 26, 2026 that Ripple was granted final approval for chartering Ripple National Trust Bank (RNTB), a federally supervised national trust bank. The approval follows conditional OCC approval in December 2025.

RNTB's approved activities include managing the segregated reserves supporting RLUSD, acting as collateral trustee of the reserves for the benefit of RLUSD holders, and providing fiduciary digital asset custody services. Those are three separate functions. Only the first two concern the stablecoin directly.

Who still issues RLUSD?

The issuer does not change. RLUSD will continue to be issued by Standard Custody & Trust Company (SCTC), Ripple's New York Department of Financial Services-regulated limited purpose trust company. RNTB adds federal OCC supervision to the regulatory infrastructure supporting RLUSD.

In our count, RLUSD is listed under its issuer, Ripple (Standard Custody & Trust). Our counts follow tokens on public blockchains. They do not audit reserves. You can see the asset page at /assets/rlusd/.

How big is RLUSD on-chain?

As of October 29, 2026, RLUSD is $2.60 billion on public blockchains, by The Migration by Concrete's count. It is number 6 of 6 cash-backed dollar stablecoins and 1.0% of the total. The full list is on /count.

The whole category stands at $261.89 billion as of October 29, 2026. That covers 6 stablecoins from 5 issuers, read directly from 18 blockchains.

For the wider picture, see our earlier piece on cash-backed stablecoins on-chain.

Where does RLUSD sit across blockchains?

RLUSD is on 2 blockchains in our count. Ethereum holds $1.62 billion. The XRP Ledger holds $976.6 million. Both figures are as of October 29, 2026.

The XRP Ledger total in our stablecoin count is also $976.6 million, or 0.4% of the category. RLUSD is the only stablecoin in our count on that chain. Ethereum holds $137.01 billion of the category in total, 52.3% of the whole.

We count only addresses the issuer publishes or confirms in writing. Counts are updated every 6 hours.

What does the charter change for RLUSD holders?

The charter changes who supervises the reserves. It does not change the token on-chain. Reserve custody and the collateral trustee role move to a federally supervised bank, while the New York trust company stays the issuer.

The approval does not alter how we count RLUSD. We read the token supply on each chain and report it by issuer. A change in reserve custody would not show up in those on-chain figures by itself.

What to watch

• Whether RNTB opens and begins managing RLUSD reserves, and when Ripple says that has happened.
• Whether RLUSD's on-chain supply moves from $2.60 billion in our next counts. We update every 6 hours.
• Any change to the split between Ethereum ($1.62 billion) and the XRP Ledger ($976.6 million).
• Whether other stablecoin issuers on /count announce similar federal custody arrangements.