Bridge, the stablecoin infrastructure provider owned by Stripe, announced on Tuesday that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank. This preliminary approval marks a significant step for Bridge in integrating digital assets into the regulated banking system. Bridge provides infrastructure to allow businesses to use stablecoins. Stripe acquired Bridge in October 2024 for a reported $1.1 billion.
The OCC’s decision positions Bridge to facilitate enterprises, fintech companies, crypto businesses, and financial institutions in building with digital dollars within a clearly defined federal framework. If Bridge secures final approval from the OCC, it will be authorised to offer businesses custody services for digital assets, stablecoin issuance and orchestration, and management of stablecoin reserves.
Other crypto firms, including Ripple and Circle, received similar preliminary approvals in December, highlighting a broader trend towards integrating digital assets into the traditional banking sector. World Liberty Financial, a crypto venture with ties to the family of former President Donald Trump, also announced in January that its subsidiary had applied to establish a national trust bank focused on stablecoin operations.
The conditional approval signifies the increasing regulatory acceptance of stablecoins and digital asset services within the U.S. financial system, potentially paving the way for wider adoption and integration of these technologies.
