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Bridge received conditional approval for a national trust bank charter from the OCC.
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Full approval would allow custody, issuance, and reserve management of stablecoins.
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Other firms like Circle and Ripple received similar approvals.
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Traditional banks are urging regulators to slow crypto charter approvals.
A Major Regulatory Milestone
Bridge, the stablecoin firm acquired by Stripe, received conditional approval for a national trust banking charter from the Office of the Comptroller of the Currency.
Once fully approved, Bridge would be able to custody digital assets, issue stablecoins, and manage reserves under a federally regulated framework.
Stablecoins Move Toward Banking Integration
Bridge follows similar conditional approvals granted to Circle, Ripple, and Paxos.
The wave of applications accelerated after regulators clarified that banks can hold crypto assets and after stablecoin legislation advanced.
However, the American Bankers Association has urged the OCC to slow approvals, warning that new crypto charters could introduce risks before Congress finalizes broader rules.
The decision highlights the growing convergence between traditional banking infrastructure and stablecoin issuance.
