Bridge, the stablecoin platform owned by payments giant Stripe, has won conditional approval from the US Office of the Comptroller of the Currency to organize as a federally chartered national trust bank. The OCC decision, announced on February 12, would enable Bridge to operate stablecoin products under direct federal oversight once final clearance is granted and custody digital assets, issue stablecoins, and manage reserves within a nationwide banking framework. Bridge described the milestone as a step toward scaling stablecoins with robust governance, noting that the GENIUS Act—signed into law in July 2025—creates a regulatory backdrop in which banks can participate more confidently. The move coincides with Stripe’s 2025 acquisition of Bridge for about $1.1 billion to bolster stablecoin payments.

Key takeaways

• Bridge has earned conditional approval to organize as a federally chartered national trust bank, placing its stablecoin and custody activities under federal oversight once final clearance is granted.
• The charter would empower Bridge to custody digital assets, issue stablecoins, and manage stablecoin reserves within a regulated banking framework.
• Bridge’s move is part of a broader OCC push to license crypto firms as national trust banks, with BitGo, Fidelity Digital Assets, Paxos, Circle, and Ripple cited in related actions.
• The GENIUS Act’s implications are now central to the conversation, with Bridge describing its compliance framework as “GENIUS ready” as regulators clarify stablecoins, yield, and oversight.
• The American Bankers Association has urged caution, arguing that GENIUS rules remain unclear and that national charters could be used to bypass existing regulatory oversight, prompting a careful pace in approvals.
• Policy discussions in the White House and in Congress continue to weigh stablecoin yield and the broader digital-asset market structure, potentially shaping how chartered institutions interact with tokenized assets and investor protections.

Market context: The OCC’s latest action comes as the broader push for regulated stablecoin rails gains momentum and lawmakers pursue a comprehensive digital asset framework in the Senate. With the GENIUS Act guiding how federal charters apply to crypto services, the market is watching closely for clarity on yield, custody, and interoperability across regulated banks and crypto platforms. The development signals a potential shift toward more formalized on-ramps for institutions seeking stablecoin-based payments and settlements.

Why it matters

For users and developers, a federally chartered national trust bank could offer stronger consumer protections, clearer governance, and the potential for more scalable, regulated stablecoin services. A formal federal framework may reduce counterparty risk and improve liquidity for on-chain payments that depend on stablecoins for settlement and cross-border remittances, creating a more predictable environment for builders and merchants integrating digital assets into payments rails.

For issuers and platforms, obtaining a national charter could streamline governance, custody, and treasury operations, enabling broader product offerings at scale. Yet regulatory clarity remains a work in progress, particularly as GENIUS Act rules are implemented and interpreted, leaving room for ongoing debate over how stablecoins fit within the broader financial system and how yield incentives align with investor protections.

From a market perspective, regulated rails could attract traditional finance participants into the crypto ecosystem, potentially boosting liquidity and interoperability while concentrating influence among a handful of chartered institutions. The balance between robust oversight and fostering innovation will shape how quickly these rails expand and how risk is managed across custody providers, issuers, and banks working on crypto-native products.

What to watch next

• Final OCC approval for Bridge’s national trust bank charter and any accompanying compliance conditions.
• Regulatory clarifications around the GENIUS Act, including timelines for implementing rules affecting stablecoins and tokenized assets.
• Updates on other charter applications (Circle, Ripple, BitGo, Fidelity, Paxos) and their progress through the OCC process.
• Any Congressional or White House developments on the digital asset market structure framework and stablecoin yield policy.
• Stripe’s follow-on steps to integrate Bridge’s charter with its broader payments ecosystem and stablecoin issuance plans.

Sources & verification

• Bridge announces conditional OCC approval to organize a federally chartered national trust bank (Bridge blog post).
• OCC CAAS filing details Bridge’s application and approval on February 12 for a national bank charter.
• Stripe’s 2025 acquisition of Bridge for approximately $1.1 billion to support stablecoin payments.
• American Bankers Association letter urging OCC to slow crypto trust charter approvals and seek GENIUS Act clarity.
• White House discussions with crypto and banking industry representatives on stablecoin yield and the market-structure framework.

Bridge advances toward a federally chartered stablecoin backbone under GENIUS Act

Bridge’s path to a federally chartered national trust bank represents a notable milestone in the evolving architecture of crypto rails in the United States. The OCC’s conditional blessing—arrived at a moment when several crypto firms are pursuing national trust bank charters—signals a shift from state-level trust status to a federally supervised framework. Bridge’s core business—custody of digital assets, stablecoin issuance, and reserve management—appears poised to move under the OCC’s direct oversight, subject to final approval conditions that would iron out governance, risk controls, and capital requirements. Bridge did not merely seek a license; it framed the move as an alignment with a broader regulatory philosophy spawned by GENIUS Act provisions, which aim to give regulated banks and crypto platforms clearer boundaries and predictable accountability in a rapidly changing landscape.

In a public post outlining the significance of the milestone, Bridge highlighted its commitment to a “GENIUS-ready” posture. The firm argued that a national trust bank charter would provide customers with a robust regulatory backbone, enabling them to build and scale stablecoin-enabled services with greater confidence. Bridge’s stance gains resonance in an ecosystem where stablecoins have become a fundamental component of daily settlement, cross-border payments, and DeFi liquidity flows. The company’s assertion that federal oversight can coexist with innovation reflects a broader assumption in the sector: when properly structured, regulated rails reduce systemic risk and lay the groundwork for responsible growth.

Context matters: Bridge’s bid comes amid a wave of OCC activity aimed at formalizing crypto banking services. Earlier in the year, regulators conditionally approved BitGo, Fidelity Digital Assets, and Paxos to convert state-level trust charters into national ones, while Circle and Ripple were also cited as pursuing national bank charters. The development underscores a shared regulatory objective—provide credible, centralized supervision for digital-asset activities that involve custody, settlement, and stablecoin issuance—without stifling technological progress. The OCC’s caution around GENIUS rule clarity, voiced by the American Bankers Association, reflects a healthy insistence on transparent standards before broad approvals, ensuring that national charters do not create loopholes that circumvent existing oversight or risk controls.

Bridge’s news sits within a larger policy milieu shaped by ongoing Senate deliberations on a comprehensive digital asset market structure framework. In parallel, White House officials have continued to meet with representatives from the crypto and banking sectors to discuss stablecoin yields and related conflicts of interest, highlighting the administration’s interest in aligning economic incentives with consumer protections. As policymakers weigh the balance between innovation and risk management, the question remains: will GENIUS Act guidance crystallize quickly enough to catalyze a new class of federally regulated crypto rails, or will regulatory ambiguity slow the pace of charter grants? The answer will influence how institutions, investors, and developers navigate the next wave of stablecoin adoption and institutional custody solutions.

Bridge’s forthcoming steps—whether that entails final OCC certification, the refinement of risk-management policies, or integration with Stripe’s wider payments infrastructure—will be closely watched by market participants seeking predictable regulatory footing for stablecoins and on-chain settlement. For many in the industry, the news signals a disciplined shift toward formalized governance and oversight that could unlock new levels of scale and reliability in digital-asset services. Yet the path remains contingent on regulatory clarifications, the pace of approvals for other charter applicants, and the evolution of how stablecoins are treated within the broader financial system. As the year unfolds, the OCC’s decisions and legislative updates will likely shape the contours of crypto banking for the foreseeable future.