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Diana, a cryptocurrency enthusiast, has drawn attention to a noteworthy development in the world of digital finance: Ripple’s official application to create Ripple National Trust Bank, a federally chartered trust bank with its headquarters located in New York City.

“The filing with the Office of the Comptroller of the Currency (OCC) shows that the trust bank will not offer consumer-facing services like mortgages, branch locations, or checking accounts,” Diana said. Rather, its goal is clear and focused: using XRP and RLUSD-powered technologies to run the new rails of money.

The main focuses of the bank’s design are direct interaction with U.S. banks, real-time global settlement, and institutional liquidity. S. financial frameworks.
Diana explains the characteristics of a national trust bank, highlighting the fact that it is a fully fiduciary institution subject to federal regulation.

Ripple’s trust bank is designed to be a compliant, technologically advanced option for enterprise-level asset management and payment operations rather than competing with traditional financial institutions on their terms.

The RLUSD stablecoin and XRP in particular are expected to be managed by the bank.

Ripple has the potential to access vital U.S. resources thanks to its federal charter.. It can avoid using conventional middlemen in the settlement process by utilizing financial networks such as FedWire and ACH.