Stripe's Bridge has applied for a national bank trust charter with the U.S. Office of the Comptroller of the Currency, seeking federal regulatory oversight to expand its stablecoin infrastructure business. Co-founder Zach Abrams announced Wednesday the application would enable the firm to tokenize trillions in assets.
The charter application would bring Bridge under a unified federal framework consistent with the GENIUS Act, the stablecoin legislation signed into law this summer. If approved, the company could provide regulated stablecoin issuance, management, and custody services under direct OCC supervision.
Abrams stated on X that the firm has long believed stablecoins will become a core regulated financial building block. The regulatory infrastructure would enable Bridge to make its vision of widespread tokenization possible, he added, noting that Stripe first signaled plans to apply for OCC oversight two weeks prior.
Bridge joins stablecoin issuers like Circle, Paxos and Ripple in pursuing federal oversight. Anchorage Digital currently remains the only crypto-native firm with a federal banking charter, having received OCC approval in 2021.
Stablecoins, cryptocurrencies tied to fiat money like the U.S. dollar, have grown into a nearly $300 billion asset class. The tokens are becoming increasingly popular for cross-border payments, with growth aided by improved regulatory clarity for the sector in the U.S.
Stripe unveiled its Open Issuance service earlier this month, helping companies launch proprietary stablecoins using Bridge's infrastructure. Crypto wallet Phantom's CASH, MetaMask's mUSD, and Hyperliquid's USDH all rely on Bridge as their issuance partner.
The payments giant acquired Bridge for $1.1 billion last year, making the stablecoin infrastructure firm integral to its growing ambition in blockchain‑powered payments. Stripe has moved quickly to develop the unit, incorporating stablecoins into its core business operations.
In June, Stripe partnered with Coinbase and Shopify to simplify merchant acceptance of Circle's USDC stablecoin payments. The company later introduced its Open Issuance platform to assist businesses in launching bespoke stablecoins, while a planned layer‑1 blockchain called Tempo will be optimized for payment transactions.
Bloomberg reported Tuesday that Stripe is rolling out subscription payments using stablecoins. The charter application represents Bridge's latest step toward becoming a fully regulated financial institution operating within traditional banking frameworks while serving the digital asset ecosystem.