Stripe’s Bridge applies for national trust charter

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.

The Genius Act established a federal regulatory framework for stablecoins.

The application expands the list of companies lining up for chartering under the months-old Genius Act.

A trust charter would not allow Bridge to lend or take insured deposits, unlike a traditional bank charter.

Author's summary: Stripe's Bridge applies for a national trust charter.

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