Bridge has received conditional approval from a top US company to establish a domestic trust bank. The financial regulator said on Tuesday that the Stripe-owned stablecoin infrastructure provider.
Cryptocurrency giants such as Ripple and Circle received preliminary approval to establish a national trust bank in December, taking an important step toward integrating digital assets into the regulated banking system.
Preliminary approval by the Office of the Comptroller of the Currency (OCC) “will help bridge businesses, fintechs, crypto businesses, and financial institutions leverage and build on a digital dollar within a clear federal framework.”
If Bridge receives final OCC approval, it will be authorized to provide digital asset custody, stablecoin issuance and orchestration, and stablecoin reserve management to businesses.
World Liberty Financial, a cryptocurrency venture backed by President Donald Trump’s family, announced in January that its subsidiary had filed to form a national trust bank focused on stablecoin operations.
Stripe acquired Bridge in October 2024 in a deal reportedly valued at $1.1 billion.
(Reporting by Juby Babu in Mexico City; Editing by Sriraj Kaluvila)
