OCC conditionally approves three trust banks, with no XRP payment plans in the decisions
- —Agora and Catena won conditional approval for new trust banks; Bastion for a federal conversion
- —Agora plans to move AUSD issuance from its Bermuda entity to the new bank
- —Ripple's Oct. 26 approval covers RLUSD reserves and custody, not XRP payments
- —ICBA sued over the OCC's authority to charter such trust banks; no ruling yet
Why it matters: The market had hoped for an XRP payments signal, but Ripple's regulatory approval is limited to custody and RLUSD, tempering XRP expectations.
Source: TokenPost