Ripple receives conditional approval from the OCC to operate as a national trust bank, a significant step towards deeper integration into the U.S. banking system. The OCC also approved four other firms for national trust bank charters, subject to regulatory conditions. National trust banks provide custody, settlement, and fiduciary services, making them ideal for handling crypto assets. Ripple CEO Brad Garlinghouse sees the move as a response to traditional banking lobbyists’ criticisms. XRP, Ripple’s native token, saw a slight increase in value following the announcement.

Read more at Yahoo Finance: Ripple receives surprising news to operate as national trust bank