- Bridge, a stablecoin infrastructure Stripe acquired early this year, has filed for a US national trust bank charter at the OCC.
- Co-founder Zach Abrams revealed that its services will include custody, issuance, and reserve management of stablecoins.
- Stripe acquired Bridge for $1.1 billion last February.
More crypto-related entities are applying for a national bank charter following Circle and Ripple. Bridge, the stablecoin infrastructure of payments processor Stripe, has recently joined the fray.
Bridge Confirms Application for National Trust Bank Charter
Zach Abrams, co-founder of Bridge, announced on Tuesday that their company has already submitted its application to the US Office of the Comptroller of the Currency (OCC) for establishing a national trust bank. He claimed that the charter aligns with the GENIUS Act’s (Guiding and Establishing National Innovation for US Stablecoins Act) unified federal framework.
The GENIUS Act was passed into law in July 2025, which provides a comprehensive federal framework for stablecoin regulation. It gives guidance for issuers, including requirements for 1:1 reserve backing with high-quality liquid assets for stablecoins, monthly reserve disclosures, and strict compliance with anti-money laundering (AML) laws. Overall, it aims to protect consumers, ensure financial stability, and reinforce the USA’s bid to become a leader in digital assets.
Abrams explained that the bank will offer stablecoin-related services, including but not limited to custody, token issuance, and management of reserves. Additionally, he commented that stablecoin will be a critical infrastructure in the future of finance.
“We’ve long believed stablecoins will be a core, regulated financial building block,” said Abrams. “This regulatory infrastructure will enable us to tokenize trillions of dollars and make this future possible.”
Stripe’s Acquisition of Bridge
Bridge’s advance comes hot on the heels of Stripe’s acquisition in February. According to CNBC, the payments giant closed its deal with the stablecoin network for $1.1 billion, its largest acquisition to date.
Adreesen Horowitz expects the move to reinforce Stripe’s growth, which saw $1.4 trillion payment volume in 2024. This translated to a 38% growth for the company.
The infusion of Bridge’s network allows Stripe to integrate stablecoins for cheaper and faster transactions, especially in cross-border settlements. Moreover, it reduces the chances of transaction failures in jurisdictions where the payment processor has limited or no support from local merchants, banks, or financial institutions.
Abrams recalled in a previous interview that Stripe’s acquisition of Bridge resulted from his conversation with Stripe CEO Patrick Collison during a roundtable meeting at the payment platform’s headquarters.
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