- Circle secured final OCC approval to launch a national trust bank for USDC custody and reserves.
- The XRP community expects Ripple to soon receive final OCC approval for its own trust bank.
- Circle’s OCC approval has revived speculation about a potential Ripple reverse takeover.
Circle’s final approval to operate a federally regulated national trust bank has sparked fresh speculation within the Ripple and XRP community. Many believe Ripple could soon receive final approval for its own national trust bank or pursue a reverse takeover
Circle Wins Final OCC Approval
On Friday, Circle announced that it has received final OCC approval to establish Circle National Trust, a federally regulated national trust bank.
The company said the charter strengthens the infrastructure behind USDC. It enables federally regulated digital asset custody services and lays the groundwork for managing reserves under federal supervision.
Circle CEO Jeremy Allaire called the approval “a defining step” toward integrating blockchain infrastructure into the U.S. financial system. He said the trust bank sets a new standard for transparency, governance, and institutional adoption of digital assets.
XRP Community Says Ripple Could Be Next
Following Circle’s announcement, several members of the XRP community predicted that Ripple could soon receive final approval for its own national trust bank. Meanwhile, Jake Claver, chairman of Digital Ascension Group, revived speculation about Ripple acquiring the USDC issuer.
“Ripple, this sure would be a good acquisition and RTO,” Claver posted.
The new suggestion is that, should Ripple fail to secure final approval, it could overcome the hurdle by acquiring Circle instead, thereby inheriting its banking charter and license.
Ripple Awaiting Final Approval
Notably, Ripple received conditional OCC approval for Ripple National Trust Bank in December 2025. At the time, Ripple CEO Brad Garlinghouse said the approval was a major milestone for the company’s U.S. strategy and its RLUSD stablecoin.
He added that RLUSD would operate under the oversight of both the OCC and the NYDFS once the charter becomes fully effective. However, the OCC said Ripple must first satisfy all pre-opening requirements before it can begin operations and receive final authorization.
Acquisition Talk Returns
Circle’s latest regulatory milestone has revived speculation about Ripple’s reported interest in acquiring the stablecoin issuer. In June 2025, Garlinghouse declined to deny rumors that Ripple was pursuing an acquisition of Circle during a fireside chat at XRP Las Vegas, saying he “cannot pre-announce” any deal.
He did, however, reject claims that Ripple made a $20 billion offer, stating that the company “definitely never” bid that amount. His refusal to outright deny acquisition talks fueled speculation that discussions may have taken place but ultimately failed.
Related: Ripple Wins Conditional OCC Approval for U.S. Trust Bank
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