Stablecoin platform Bridge, owned by the funds processor Stripe, stated it had acquired conditional approval to function as a federally chartered nationwide belief financial institution underneath the US Workplace of the Comptroller of the Foreign money (OCC).
In a Tuesday discover, Bridge said it had acquired conditional approval from the banking regulator, permitting the corporate to “function stablecoin services underneath direct federal oversight” as soon as absolutely authorized. Bridge stated the constitution would enable it to supply custody of digital property, concern stablecoins and handle stablecoin reserves.
“Our compliance framework already positions Bridge to be GENIUS prepared,” stated the corporate, referring to the stablecoin invoice signed into regulation in July 2025. “Now attaining a nationwide belief financial institution constitution will present our prospects the regulatory spine they should construct with stablecoins confidently and at scale.”
Bridge is considered one of a number of crypto-aligned corporations in search of a nationwide belief financial institution constitution from the OCC following the passage of the GENIUS Act. In December, the company conditionally authorized purposes from BitGo, Constancy Digital Property and Paxos to transform their respective state-level belief corporations, and conditionally authorized Circle and Ripple for nationwide belief financial institution charters.
Associated: Bankers push OCC to gradual crypto belief charters till GENIUS guidelines are clarified
Based on OCC information, Bridge applied for a financial institution constitution in October and was given approval on Feb. 12. Stripe acquired the platform in 2025 as a part of a $1.1 billion deal for the corporate to assist stablecoin funds.
In a Wednesday letter, the American Bankers Affiliation (ABA) urged the OCC to gradual its approval of crypto corporations for nationwide financial institution belief charters, saying guidelines underneath the GENIUS Act had been nonetheless unclear. Based on the banking group, corporations may use nationwide belief charters to primarily bypass oversight by US monetary regulators.
“[…] ABA strongly encourages OCC to be affected person, not measure its software decision-making progress towards conventional timelines, and permit every constitution applicant’s regulatory obligations to come back absolutely into view earlier than shifting a constitution software ahead,” stated the letter.
US policymakers are nonetheless contemplating find out how to deal with stablecoin rewards
As US lawmakers within the Senate advance payments to determine a complete digital asset market construction framework, White Home officers proceed to satisfy with representatives from the crypto and banking industries to handle stablecoin yield. Addressing stablecoins throughout the market construction invoice, in addition to points associated to tokenized equities and conflicts of curiosity, might be a sticking level for a lot of lawmakers forward of a possible vote within the Senate.
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