Stripe’s Bridge Gains US Approval to Establish National Trust Bank for Stablecoin Issuance

Bridge Approved to Establish National Trust Bank

The Office of the Comptroller of the Currency (OCC) has granted preliminary approval for Stripe’s subsidiary Bridge to establish a national trust bank. This allows Bridge to issue stablecoins, custody digital assets, and manage reserves under federal oversight.

Supporting Financial Innovation

Bridge stated that this move provides a clear federal framework for fintechs and crypto businesses, promoting innovation and compliance within the industry.

Regulatory Focus on Stablecoins

Companies like Circle, BitGo, and Ripple have also received similar approvals, indicating a growing trend toward structured regulation of stablecoins in the US. The timeline for Bridge’s final approval remains undisclosed.