What is Bridge's new approval for?

Bridge has received conditional approval to establish a national trust bank.

Who owns Bridge and when was it acquired?

Bridge is owned by Stripe and was acquired in October 2024.

What services will Bridge offer if fully approved?

If fully approved, Bridge will offer digital asset custody, stablecoin issuance, and stablecoin reserve management.

Home / Business and Economy / Bridge Gets Green Light for National Trust Bank

Bridge Gets Green Light for National Trust Bank

18 Feb

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Summary

Bridge has received conditional approval for a national trust bank.
The approval positions Bridge to support digital dollar initiatives.
Stripe acquired Bridge in October 2024 for approximately $1.1 billion.

Bridge Gets Green Light for National Trust Bank

Bridge, a stablecoin infrastructure provider owned by Stripe, has secured conditional approval to establish a national trust bank. The Office of the Comptroller of the Currency (OCC) granted this preliminary nod, marking a significant stride for digital assets in the regulated banking system. This approval is expected to enable Bridge to assist enterprises and fintech companies in building with digital dollars under a clear federal framework.

Upon receiving final OCC approval, Bridge will be authorized to provide a range of services. These include custody of digital assets, stablecoin issuance and orchestration, and management of stablecoin reserves. This development follows similar preliminary approvals granted in December to other crypto entities like Ripple and Circle. Stripe acquired Bridge in October 2024, in a deal reportedly valued at $1.1 billion.

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