Stripe’s Bridge Wins Conditional OCC National Trust Charter to Issue Stablecoins
Bridge, the stablecoin platform acquired by Stripe, received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to form a federally chartered national trust bank. The February 12 conditional ok follows Bridge’s October application and would allow the firm to custody digital assets, issue stablecoins, and manage reserves under federal banking supervision once finalized. Bridge says it will operate under the GENIUS stablecoin framework (the new U.S. law tightening reserve and oversight rules) and aims to provide regulatory infrastructure to fintechs, crypto firms and corporates seeking digital dollar rails. The move fits a broader trend of conditional OCC approvals for crypto custody and stablecoin businesses (Ripple, Circle, BitGo, Fidelity Digital Assets, Paxos), though regulators and groups like the American Bankers Association have urged caution and clearer GENIUS rules. For traders, a federal charter for a stablecoin issuer can reduce regulatory uncertainty, support stablecoin liquidity and interoperability with traditional banks, and — if finalized — may bolster adoption of dollar-pegged tokens for payments and settlement across on‑ and off‑chain markets.
Bullish
A conditional OCC national trust charter for Bridge is likely bullish for stablecoin markets and related trading activity. Short-term, the announcement reduces regulatory tail‑risk for a major issuer and could increase confidence in dollar-pegged tokens, supporting demand and tighter spreads across stablecoin pairs. It may also improve on‑ramps and liquidity between crypto venues and traditional bank rails, encouraging traders to use stablecoins for settlement and leverage. Long-term, if the charter is finalized under the GENIUS framework, Bridge — backed by Stripe — could expand institutional and corporate use of stablecoins for cross‑border and real‑time payments, raising overall stablecoin transaction volume and market depth. Caveats: approval is conditional and regulators remain cautious; market reaction could be muted until final charter terms and GENIUS implementing rules are clear. Overall, the impact on the referenced stablecoin(s) and broader dollar-pegged liquidity is expected to be positive.