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.
- Coinbase
- Circle
- Ripple
- Paxos
have also applied for an OCC charter this year. The application is part of a growing list of crypto-native firms seeking chartering under the Genius Act, which established a federal regulatory framework for stablecoins.
The Genius Act, passed by the Senate in June, allows companies to apply for trust charters with the OCC.
A trust charter would not permit Bridge to lend or accept insured deposits, unlike a traditional bank charter.
Author's summary: Stripe's Bridge applies for a national trust charter with the OCC.
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