Bridge, the stablecoin infrastructure company owned by payments giant Stripe, has received conditional approval from the U.S. Office of the Comptroller of the Currency to form a national trust bank. The preliminary authorization marks a significant step toward bringing stablecoin issuance and reserve management under direct federal supervision.
If finalized, the charter would allow Bridge National Trust Bank to issue stablecoins, custody digital assets, and manage backing reserves within a regulated banking framework. The move positions Bridge among a growing group of crypto focused firms seeking to operate inside the U.S. federal banking system rather than solely under state level licenses.
The approval follows Stripe’s acquisition of Bridge in 2024 for 1.1 billion dollars, a deal widely viewed as part of Stripe’s broader strategy to expand into blockchain based payments infrastructure. Since the acquisition, Bridge has focused on providing issuance rails and compliance tooling for digital dollar products used by fintech platforms and crypto wallets.
According to company statements, the trust charter would enable Bridge to serve enterprises, fintech companies, and financial institutions looking to integrate stablecoins into payment flows while remaining within a clear federal regulatory perimeter. A national trust bank structure typically allows institutions to custody assets and provide fiduciary services, though it does not permit traditional deposit taking like a commercial bank.
The development comes as federal regulators move forward with implementing provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, commonly referred to as the GENIUS Act. Passed last year, the law outlines a framework for regulating stablecoin issuers, including reserve requirements, disclosure standards, and supervisory oversight. While agencies such as the OCC, Federal Reserve, and Federal Deposit Insurance Corporation are still finalizing specific rulemaking, conditional charter approvals signal that regulators are preparing to integrate stablecoin issuers into the national banking architecture.
Bridge joins other digital asset firms that have recently secured similar initial approvals. In December, several prominent crypto companies received conditional trust charters as regulators increased engagement with the sector. These steps suggest a broader shift toward formalizing stablecoin operations within federally supervised entities rather than leaving the industry fragmented across state regimes.
Currently, Bridge powers stablecoin issuance for products such as Phantom’s CASH and MetaMask’s mUSD through Stripe’s Open Issuance platform. By moving under a national trust structure, the company could centralize compliance, reserve management, and custody operations within a single federally monitored entity.
Final approval from the OCC is still pending, and no timeline has been publicly disclosed. However, the conditional sign off reflects continued momentum toward integrating digital dollar infrastructure into the U.S. banking system. As stablecoins become increasingly embedded in payment networks and cross border transactions, federal oversight may play a defining role in shaping how digital assets coexist with traditional finance.
