The stablecoin bridge platform — a company acquired by Stripe last year — has received conditional approval from the US OCC to move forward toward becoming a federally chartered national bank.
If completed, this license will allow Bridge to custody crypto, issue stablecoins, and manage stablecoin reserves under federal supervision. The company states that this move will help support businesses, fintechs, crypto companies, and financial institutions in building dollar-based products with a clear legal framework.
Bridge joins an increasing group of crypto companies applying for federal banking charters, including Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos — all of which received conditional approval in December. Previously, Anchorage Digital Bank was the only crypto company granted a national trust charter since 2021.
Bridge states that their compliance framework is ready to align with the new stablecoin law called the GENIUS Act, signed into law by President Donald Trump, while federal agencies are implementing detailed regulations. The company emphasizes that the national trust bank charter will provide the necessary legal foundation for customers to deploy stablecoins at scale.
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