Stripe’s Bridge Moves Toward U.S. Bank Status with OCC Approval
Stripe's stablecoin infrastructure firm Bridge received conditional approval from the OCC to establish a federally chartered national trust bank
Stripe-owned Bridge has received conditional approval from the Office of the Comptroller of the Currency (OCC) to organize a federally chartered national trust bank. Once fully approved, this status will enable the company to operate its stablecoin and digital asset infrastructure under direct federal oversight, expanding its ability to serve enterprises, FinTechs, and financial institutions within a unified regulatory framework.
Key Highlights of the Approval
Federal oversight for stablecoin infrastructure: The charter would enable Bridge to deliver its stablecoin-related services under a single federal regulatory regime, reducing reliance on multiple state-level licences.
Expanded service scope across digital asset operations: Upon full approval, Bridge will be authorized to provide digital asset custody, stablecoin issuance, orchestration, and reserve management for institutional clients.
Support for enterprise and financial institution use cases: The approval positions Bridge to offer infrastructure for treasury management, cross-border payments, global settlement, and tokenised asset markets using digital dollars.
Alignment with broader FinTech regulatory positioning: The move follows similar approvals granted to other crypto-focused firms, indicating a trend where companies seek bank charters to scale operations within regulated financial frameworks.
Integration within a larger payments and crypto strategy: The development aligns with Stripe’s broader expansion into digital asset infrastructure, following acquisitions across wallet infrastructure, payment orchestration, and billing platforms.
API-led stablecoin orchestration capabilities: Bridge operates an API-based platform that enables businesses to store, transfer, and accept stablecoins, along with enabling real-time global payments and card issuance linked to digital assets.
No disclosed timeline for full approval: While conditional approval has been granted, the timeline for receiving full authorization and commencing operations as a national trust bank has not been specified.
FinTech Firms Pursuing U.S. Banking and Trust Charters
Bunq: bunq, Europe’s second largest neobank filed a de novo banking license application with the Office of the Comptroller of the Currency (OCC), advancing plans to establish regulated banking operations in the United States.
Mercury: Mercury applied to the Office of the Comptroller of the Currency (OCC) for a national bank charter to become the Bank for builders and separately filed for federal deposit insurance with the Federal Deposit Insurance Corporation (FDIC).
PayPal: PayPal has submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to establish a Utah-chartered industrial loan company, proposed as PayPal Bank.
Circle: Circle has received conditional OCC approval to establish a national trust bank to manage reserves backing its U.S. dollar stablecoin under federal oversight.
Ripple: Ripple has secured conditional approval to form a national trust bank, placing its stablecoin reserve management under both federal and state regulatory supervision.
Coinbase: Coinbase has applied to become a national trust company to expand its custody business and support payments and related services under federal regulation.
Wise: Wise has filed an application with the OCC to create a national trust bank, aimed at reducing dependence on partner banks and supporting service expansion in the U.S.
Revolut: Revolut has confirmed it is evaluating options to establish a U.S. bank, either through acquisition or by applying for a new banking license.
