Stripe-owned Bridge has received conditional approval from the Office of the Comptroller of the Currency (OCC) to organize a federally chartered national trust bank.
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Once fully approved, Bridge will be authorized to offer businesses custody of digital assets, stablecoin issuance and orchestration and stablecoin reserve management.
The approval positions Bridge to help enterprises, fintechs, crypto businesses, and financial institutions build with digital dollars inside a clear federal framework.
States the firm: “Our compliance framework already positions Bridge to be Genius ready. Now achieving a national trust bank charter will provide our customers the regulatory backbone they need to build with stablecoins confidently and at scale.”
Bridge’s authorisation follows similar approvals gained by Circle and Ripple, as fintech firms at the intersection of crypto and payments increasingly look to bank status as a means to broaden their reach and bypass state-by-state licencing.
