Stripe’s Bridge Secures Conditional OCC Approval for National Trust Bank

Bridge, the stablecoin infrastructure company owned by payments giant Stripe, has secured conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, marking a major step in Stripe’s strategy to expand deeper into blockchain-based financial services.

If finalized, the charter would allow the proposed Bridge National Trust Bank to issue stablecoins, provide digital asset custody, and oversee reserve management under direct federal supervision. The move would place the firm inside the U.S. banking system at a time when regulators are shaping a more formal framework for dollar-backed tokens.

The approval comes roughly two years after Stripe acquired Bridge for $1.1 billion, a deal that signaled the payments company’s renewed interest in cryptocurrency infrastructure after previously stepping back from the sector. 

Since the acquisition, Stripe has focused on building tools that allow businesses to create and manage stablecoin-based payment flows, positioning itself as a key intermediary between traditional finance and blockchain networks.

Conditional Approval Opens Path to Federal Oversight

In a statement announcing the approval, Bridge said the conditional charter would help it provide a compliant pathway for enterprises, fintech firms, crypto companies, and financial institutions to integrate stablecoins into their operations. 

The company emphasized that operating within a federally regulated structure could reduce uncertainty for businesses looking to adopt digital dollars for payments, settlement, and treasury functions.

Bridge also said its systems are already aligned with the compliance expectations outlined in the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act, the legislation passed last year to establish a regulatory regime for stablecoin issuers. 

While the law sets out the framework, federal agencies including the OCC, the Federal Reserve, and the Federal Deposit Insurance Corporation are still in the process of drafting the detailed rules that will govern issuers.

Growing List of Applicants Under New Stablecoin Regime

The company’s conditional approval places it among a growing list of firms attempting to bring stablecoin operations into the U.S. federal banking system. 

In December, Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo all received similar conditional approvals from the OCC. Erebor Bank was also granted a conditional national bank charter in October.

Bridge first applied for its charter in October, and OCC records indicate that the agency signed off on the conditional approval last week. The regulator has not yet provided a timeline for when the charter could receive final approval, which will likely depend on the company meeting additional supervisory and operational requirements.

Bridge already provides the technical infrastructure behind several stablecoin products. Through Stripe’s Open Issuance platform, Bridge supports tokens such as Phantom’s CASH and MetaMask’s mUSD, offering tools for issuance, compliance, and reserve management.

Stripe Deepens Its Stablecoin Strategy

Industry observers see the wave of conditional approvals as a sign that U.S. regulators are gradually moving toward a more standardized system for stablecoin oversight. 

The GENIUS Act was designed to bring issuers under federal supervision, with requirements around reserve backing, disclosures, and risk management. Firms that secure national trust bank charters could gain a competitive advantage by operating within a clear regulatory perimeter, particularly as large financial institutions explore stablecoin-based settlement and payments.

For Stripe, the development reinforces its bet that stablecoins will become a core component of global payment infrastructure. By securing a federal banking charter for its stablecoin arm, the company could position itself as a regulated issuer and service provider at a time when both crypto-native firms and traditional financial players are racing to build dollar-backed digital assets.