Bridge, the stablecoin platform owned by payment processing company Stripe, announced that it has received conditional approval to operate as a federally chartered national trust bank under the U.S. Office of the Comptroller of the Currency (OCC).
In Tuesday’s notice, Bridge said it had received conditional approval from banking regulators, which would allow it to “operate stablecoin products and services under direct federal government supervision” if fully approved. Bridge said the charter will allow for the provision of custody of digital assets, the issuance of stablecoins and the management of stablecoin reserves.
“With our compliance framework, Bridge is already poised to be GENIUS-ready,” the company said, referring to the Stablecoin Act that was enacted in July 2025. “Achieving national trust bank authorization will provide our customers with the regulatory backbone they need to build with stablecoins at scale with confidence.”
Bridge is one of several crypto companies seeking national trust bank status from the OCC following the passage of the GENIUS Act. In December, the agency conditionally approved applications by BitGo, Fidelity Digital Assets, and Paxos to transform into state-level trust companies, and conditionally approved Circle and Ripple’s establishment of national trust banks.
Related: Bankers ask OCC to delay issuance of cryptocurrency trust charter until GENIUS rules are clarified
Bridge applied for a bank charter in October and was approved on February 12, according to OCC records. Stripe acquired the platform in 2025 as part of a $1.1 billion deal to support stablecoin payments.
In a letter Wednesday, the American Bankers Association (ABA) urged the OCC to delay approving virtual currency companies for the National Bank Trust Rider, saying the rules under the GENIUS Act remain unclear. The banking group said companies could use the National Trust Charter to effectively avoid oversight by U.S. financial regulators.
“(…) ABA urges the OCC to be patient, not measure the progress of application decisions against traditional timelines, and fully consider each charter applicant’s regulatory responsibilities before moving forward with charter applications,” the letter reads.
US policymakers still considering how to handle stablecoin rewards
White House officials continue to meet with representatives from the crypto and banking industries to address stablecoin yields, as U.S. senators advance legislation that would establish a framework for a comprehensive digital asset market structure. Addressing stablecoins in the market structure bill, as well as issues related to tokenized stocks and conflicts of interest, could be a sticking point for many lawmakers ahead of a vote in the Senate.
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