Stripe's Bridge Applies for National Trust Charter
Bridge, a stablecoin firm acquired by Stripe, has applied for a national bank trust charter with the Office of the Comptroller of the Currency (OCC), according to co-founder Zach Abrams.
Bridge joins a growing list of crypto-native firms, including Coinbase, Circle, Ripple, and Paxos, which have applied for an OCC charter this year.
- Circle
- Paxos
- Ripple
- Coinbase
The application is made under the Genius Act, which established a federal regulatory framework for stablecoins. A trust charter would not allow Bridge to lend or take insured deposits, unlike a traditional bank charter.
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Author's summary: Stripe's Bridge applies for national trust charter with OCC.