Stripe’s Bridge Seeks Federal Trust Bank Charter
- Bridge, Stripe’s stablecoin arm, applied to the OCC for a national trust bank charter.
- The GENIUS Act mandates stablecoin issuers maintain reserves in cash or Treasuries and publish monthly disclosures.
- Bridge joins Circle, Paxos, Ripple, and Coinbase in seeking federal trust bank approval.
- If approved, Bridge would be among the first stablecoin-focused national trust banks in the U.S.
Stripe’s acquisition of Bridge for $1.1 billion aims to integrate blockchain-based payments into its network. The GENIUS Act allows the OCC to supervise nonbank issuers like Bridge, enhancing regulatory oversight of digital assets.
The application by Bridge signals a shift towards federal recognition of digital dollar infrastructure in the U.S., potentially setting a precedent for interoperability between on-chain liquidity and off-chain oversight under a unified framework. (Source)
