OCC Grants Conditional National Trust Bank Charters to Circle, Ripple, Paxos and Other Crypto Firms

On December 12, 2025, the US Office of the Comptroller of the Currency conditionally cleared five crypto companies, including Circle, Ripple, Paxos, BitGo and Fidelity Digital Assets, to operate as national trust banks. The charters allow these firms to provide custody and selected banking services under a single federal framework, with Paxos permitted to issue stablecoins under federal oversight while Ripple's bank will not issue RLUSD.