Bridge, a stablecoin infrastructure firm backed by Stripe, announced Tuesday it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank. This federal charter will empower Bridge National Trust Bank to issue stablecoins, manage digital assets, and oversee reserves under direct federal regulation.
The move represents a significant expansion for Stripe's involvement in blockchain-based payments, following its $1.1 billion acquisition of Bridge in 2024. The company stated this approval positions Bridge to support enterprises, fintechs, and financial institutions in building with digital dollars within a defined federal framework. Bridge asserts its systems already align with the compliance standards of the GENIUS Act, legislation enacted last year to regulate stablecoin issuers.
Bridge joins a growing cohort of firms pursuing federal frameworks for stablecoin products. In recent months, Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo have also obtained similar conditional approvals from the OCC. Bridge applied for its charter in October, with the OCC granting conditional approval last week. The firm currently facilitates stablecoin issuance for platforms like Phantom's CASH and MetaMask's mUSD through Stripe's Open Issuance platform. The OCC has not yet provided a timeline for final approval.