In a landmark move for the digital assets industry, Bridge, the stablecoin platform acquired by payments giant Stripe for $1.1 billion last year, has received conditional approval from the Office of the Comptroller of the Currency (OCC) to organize as a national trust bank.
The announcement marks a significant step forward in Stripe’s ambition to become the dominant infrastructure provider for the burgeoning stablecoin economy. If the charter is approved, Bridge will transition into a federally regulated banking entity, granting it the authority to custody digital assets, issue its own stablecoins, and manage the underlying dollar reserves that back them all under the direct supervision of the U.S. government.
OCC Grants Stripe-Owned Bridge Conditional Bank Charter for Stablecoins
For years, crypto-native firms have operated through a patchwork of state-level money transmitter licenses. By securing a national trust charter, Bridge joins an elite group of crypto firms that includes Circle, Ripple, and BitGo to receive conditional approvals from the OCC over the past year. Currently, Anchorage Digital is the only crypto firm to operate under a national bank charter, which was greenlit in 2021.
In a statement, Bridge said that achieving a national bank charter will provide its customers the “regulatory backbone it needs to build with stablecoins confidently and at scale.” The company noted that the charter is designed to help enterprises, fintechs, and legacy financial institutions integrate stablecoins into their payment flows without the legal ambiguity that has historically dogged the sector.
The company said its compliance framework positions it to align with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act – a new federal stablecoin legislation that was signed into law by President Donald Trump last year. As federal regulators work to implement the rules dictated by the law, Bridge is preparing for a first-mover compliant infrastructure for the new era of regulated digital commerce.
Stripe’s acquisition of Bridge in late 2024 was the largest in the payments giant’s history, signaling a pivot toward stablecoins as the future of cross-border settlements. By owning a chartered bank, Stripe effectively removes the “middleman” from its crypto operations.
Industry analysts suggest that this vertical integration will allow Stripe to offer near-instant global settlements at a fraction of the cost of traditional wire transfers or card networks.
“This isn’t just about crypto; it’s about rebuilding the plumbing of global finance,” said one fintech analyst. “With an OCC charter, Bridge becomes the bridge between the volatility of the crypto markets and the stability of the U.S. banking system.“
OCC Charter Positions Stripe to Challenge Traditional Cross-Border Banking
While the news is a major victory, the “conditional” nature of the approval means Bridge still has hurdles to clear. The OCC requires the firm to meet stringent standards regarding capital adequacy, liquidity management, and robust anti-money laundering (AML) protocols before the “Bridge National Trust Bank” can officially open its doors.
The approval also comes amid a shift in the regulatory climate in Washington. The Trump administration has signaled a “pro-innovation” stance, encouraging the OCC to provide clear pathways for crypto firms to enter the federal fold. However, the move is not without critics. Traditional banking trade groups have previously lobbied against “special purpose” charters, arguing that they allow tech firms to enjoy the benefits of banking without the same rigorous oversight applied to commercial lenders.
As Bridge moves toward final activation of its charter, the ripple effects are already being felt. Earlier this week, global payments platform Payoneer announced a partnership with Bridge to explore stablecoin-based payouts for its millions of freelance and enterprise users.
For Stripe, the goal is clear: to ensure that the next billion dollars moved across the internet aren’t just moved via credit cards, but via regulated, programmable digital assets. With the OCC’s conditional nod, that future is one step closer to reality.
