Feb 17 (Reuters) - Bridge has gained conditional approval to set up a national trust bank from a top U.S. financial regulator, the Stripe-owned stablecoin infrastructure provider said on Tuesday.
Crypto giants, including Ripple and Circle, in December received preliminary approval to establish national trust banks, marking a significant step in integrating digital assets into the regulated banking system.
The preliminary approval by the Office of the Comptroller of the Currency (OCC) "positions Bridge to help enterprises, fintechs, crypto businesses, and financial institutions build with digital dollars inside a clear federal framework," it said.
If Bridge receives final OCC approval, it will be authorized to offer businesses custody of digital assets, stablecoin issuance and orchestration, and stablecoin reserve management.
World Liberty Financial, a crypto venture backed by the family of President Donald Trump, said in January its subsidiary had filed an application to establish a national trust bank focused on stablecoin operations.
Stripe acquired Bridge in October 2024, in a deal reportedly valued at $1.1 billion.
Reporting by Juby Babu in Mexico City; Editing by Sriraj Kalluvila
