Stripe’s Bridge Receives Conditional OCC Approval to Function as a National Trust Bank

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TLDR

  • Bridge, a Stripe subsidiary, has secured conditional approval from the OCC to function as a national trust bank
  • This charter would permit Bridge to issue stablecoins, hold digital assets, and oversee reserves under federal supervision
  • Bridge submitted its application in October 2024, and the OCC granted approval on Feb. 12, 2026
  • Similar approvals were granted in December to other entities such as Circle, Ripple, BitGo, Paxos, and Fidelity Digital Assets
  • The American Bankers Association has called on the OCC to delay approvals until the regulations under the GENIUS Act are fully defined

The US Office of the Comptroller of the Currency (OCC) has granted conditional approval to Bridge, Stripe’s stablecoin platform, to establish a national trust bank.

Agency records indicate that the OCC approved the application on Feb. 12, 2026. Bridge had originally applied for this charter in October 2025.

Upon final approval, the charter will authorize Bridge to issue stablecoins, provide custody for digital assets, and manage reserves, all under direct federal supervision.

According to Bridge, this approval enables it to assist enterprises, fintech companies, and financial institutions in “building with digital dollars inside a clear federal framework.”

Stripe acquired Bridge in 2024 for $1.1 billion, a move that supported Stripe’s expansion into blockchain-based payments.

Currently, Bridge facilitates stablecoin issuance for products such as Phantom’s CASH and MetaMask’s mUSD via Stripe’s Open Issuance platform.

The company stated that its compliance systems already align with the standards of the GENIUS Act, a law enacted in July 2025 to federally regulate stablecoin issuers.

Specific regulations for the GENIUS Act have not yet been implemented by federal regulators, including the OCC, Federal Reserve, and FDIC, who are currently finalizing the process.

Expanding Number of Approvals

Bridge is not the only recipient of such approval. In December 2025, the OCC issued conditional charters to Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo.

Additionally, Erebor Bank secured a conditional national bank charter in October 2025, reflecting a trend among crypto firms seeking to operate within federal banking frameworks.

Resistance from Traditional Banking Sector

The rapid pace of these approvals has not been universally accepted. On Wednesday, the American Bankers Association (ABA) sent a letter to the OCC requesting a slowdown.

The ABA argued that the regulations remain unclear and cautioned that national trust charters might enable crypto firms to bypass oversight from US financial regulators.

The group urged the OCC to ensure that the full regulatory responsibilities for each applicant are clearly defined before advancing their applications.

There is currently no announced timeline from the OCC regarding when Bridge’s approval will be finalized.

Discussions regarding stablecoin yield rules are ongoing between White House officials and representatives from the crypto and banking industries. These matters, alongside tokenized equities and conflicts of interest, may influence upcoming Senate votes on comprehensive digital asset legislation.