On Feb 17, Bridge, a stablecoin infrastructure provider owned by Stripe, disclosed that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank. The company framed the OCC's preliminary decision as a stepping stone toward integrating digital-dollar services within a federal regulatory framework.
The OCC's preliminary approval included the statement that it "positions Bridge to help enterprises, fintechs, crypto businesses, and financial institutions build with digital dollars inside a clear federal framework," it said. That language signals the regulator's view of the potential role a national trust charter could play for firms offering stablecoin-related products and services.
If Bridge secures final approval from the OCC, the company would be authorized to provide a set of services aimed at business customers. Those services, as set out by Bridge, would include custody of digital assets, stablecoin issuance and orchestration, and management of stablecoin reserves. Each of these activities depends on the conversion of the preliminary or conditional authorization into a final charter from the OCC.
The news follows a wave of similar moves within the crypto sector. In December, Ripple and Circle received preliminary approvals to establish national trust banks, marking a broader push among digital-asset firms to obtain federally chartered bank status. Separately, World Liberty Financial - a crypto venture backed by the family of President Donald Trump - said in January that its subsidiary had filed an application to form a national trust bank focused on stablecoin operations.
Bridge became part of Stripe in October 2024, when the payments company completed an acquisition reportedly valued at $1.1 billion. The deal placed Bridge's stablecoin infrastructure capabilities within Stripe's corporate structure while the OCC review proceeded.
At this stage, Bridge's ability to operate the envisaged services remains contingent on final regulatory sign-off. The preliminary nature of the OCC action means that the company and interested counterparties will need to await the completion of the OCC's formal approval process before the full scope of activities can commence.
Sectors impacted: fintech, banking, and cryptocurrency infrastructure.