Stripe's stablecoin firm Bridge wins initial approval to form national bank trust charter
Stripe's stablecoin firm, Bridge, received conditional approval from the OCC to form a national trust bank.Summary
Bridge, a stablecoin infrastructure firm owned by Stripe, announced it received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, Bridge National Trust Bank. This banking license would permit Bridge to issue stablecoins, manage reserves, and custody digital assets under direct federal oversight. The company stated this positions them to help various entities build with digital dollars within a clear federal framework, noting their systems already meet compliance standards outlined in the GENIUS Act, which regulates stablecoin issuers. Bridge is joining other firms like Circle and Ripple that have also received similar conditional approvals from the OCC as they seek to operate stablecoin products within federal regulations.
(Source：CoinDesk)