Bridge Wins Conditional OCC Approval to Launch National Trust Bank for Stablecoin Services

Bridge, the stablecoin infrastructure firm acquired by Stripe for $1.1 billion in 2024, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank. The proposed entity, Bridge National Trust Bank, would allow the company to issue stablecoins, custody digital assets, and manage stablecoin reserves under direct federal oversight.

The conditional charter marks a significant milestone in Stripe’s expanding push into blockchain-based payments and digital dollar infrastructure. With federal supervision from the OCC, Bridge aims to provide enterprises, fintech companies, crypto businesses, and traditional financial institutions with compliant access to stablecoin issuance and digital asset custody services.

According to the company, its infrastructure already aligns with compliance standards outlined in the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, legislation passed last year to regulate stablecoin issuers. While the OCC, Federal Reserve, and Federal Deposit Insurance Corp. (FDIC) are still finalizing the specific regulatory frameworks required under the GENIUS Act, progress is underway.

Bridge joins a growing list of crypto and fintech firms pursuing federal banking charters to operate within a regulated U.S. framework. In December, Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo also received conditional OCC approvals. Erebor Bank was granted a conditional national bank charter in October. Bridge applied for its charter the same month, with OCC records showing approval was granted last week. The regulator has not yet provided a timeline for final authorization.

Currently, Bridge powers stablecoin issuance for products such as Phantom’s CASH and MetaMask’s mUSD through Stripe’s Open Issuance platform. If fully approved, Bridge National Trust Bank could strengthen institutional adoption of stablecoins by offering federally supervised digital asset services in the United States.