Stablecoin platform Bridge, owned by the funds processor Stripe, mentioned it had acquired conditional approval to function as a federally chartered nationwide belief financial institution underneath the US Workplace of the Comptroller of the Forex (OCC).
In a Tuesday discover, Bridge mentioned it had acquired conditional approval from the banking regulator, permitting the corporate to “function stablecoin services and products underneath direct federal oversight” as soon as totally accepted. Bridge mentioned the constitution would permit it to supply custody of digital property, subject stablecoins and handle stablecoin reserves.
“Our compliance framework already positions Bridge to be GENIUS prepared,” mentioned the corporate, referring to the stablecoin invoice signed into legislation in July 2025. “Now reaching a nationwide belief financial institution constitution will present our clients the regulatory spine they should construct with stablecoins confidently and at scale.”
Bridge is one among 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 accepted functions from BitGo, Constancy Digital Belongings and Paxos to transform their respective state-level belief corporations, and conditionally accepted Circle and Ripple for nationwide belief financial institution charters.
Associated: Bankers push OCC to gradual crypto belief charters till GENIUS guidelines clarified
In response to OCC information, Bridge utilized 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. In response to the banking group, corporations might use nationwide belief charters to primarily bypass oversight by US monetary regulators.
“[…] ABA strongly encourages OCC to be affected person, not measure its utility decisioning progress towards conventional timelines, and permit every constitution applicant’s regulatory duties to return totally into view earlier than transferring a constitution utility ahead,” mentioned the letter.
US policymakers nonetheless contemplating the best way to deal with stablecoin rewards
As US lawmakers within the Senate advance payments to ascertain 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, may very well be a sticking level for a lot of lawmakers forward of a possible vote within the Senate.
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