OCC Grants Preliminary National Bank Charter Approval to Stripe's Bridge Platform
Pending final authorization, the preliminary approval from the banking regulator would allow Bridge to provide businesses with digital asset and stablecoin solutions.
Bridge, a stablecoin-focused platform under the ownership of payment processing giant Stripe, announced that it has obtained preliminary authorization to function as a federally chartered national trust bank through the US Office of the Comptroller of the Currency (OCC).
Through a notice issued on Tuesday, Bridge disclosed its receipt of preliminary authorization from the federal banking regulator, which will enable the firm to "operate stablecoin products and services under direct federal oversight" following complete approval. According to Bridge's statement, the charter will authorize the company to provide digital asset custody services, conduct stablecoin issuance operations, and handle the management of stablecoin reserves.
"Our compliance framework already positions Bridge to be GENIUS ready. Now achieving a national trust bank charter will provide our customers the regulatory backbone they need to build with stablecoins confidently and at scale."
Bridge
Bridge joins a growing number of cryptocurrency-focused enterprises pursuing national trust bank charter status from the OCC in the wake of the GENIUS Act's enactment. During December, the regulatory agency granted conditional approvals to BitGo, Fidelity Digital Assets and Paxos for the conversion of their existing state-level trust company operations, while also conditionally approving both Circle and Ripple for national trust bank charter designation.
Based on official OCC documentation, Bridge submitted its bank charter application during October and received approval on Feb. 12. The platform was purchased by Stripe in 2025 through a $1.1 billion acquisition deal designed to enable the company to facilitate stablecoin payment services.
Through a letter released on Wednesday, the American Bankers Association (ABA) called upon the OCC to decelerate its charter approval process for cryptocurrency companies seeking national bank trust status, citing continued ambiguity surrounding GENIUS Act regulations. The banking organization argued that companies might leverage national trust charters to effectively circumvent supervision by US financial regulatory authorities.
"[…] ABA strongly encourages OCC to be patient, not measure its application decisioning progress against traditional timelines, and allow each charter applicant's regulatory responsibilities to come fully into view before moving a charter application forward."
American Bankers Association
US policymakers still considering how to handle stablecoin rewards
While US legislators in the Senate push forward bills designed to create a comprehensive regulatory framework for digital asset markets, officials from the White House are maintaining ongoing discussions with stakeholders from both the cryptocurrency and traditional banking sectors regarding the matter of stablecoin yield. The treatment of stablecoins under the market structure legislation, alongside concerns involving tokenized equities and potential conflicts of interest, may present significant challenges for numerous lawmakers prior to a prospective Senate voting session.