Stripe's stablecoin firm Bridge wins initial approval of national bank trust charter

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Stripe's stablecoin firm Bridge wins initial approval of national bank trust charter The U.S. banking license would allow Bridge to issue and manage stablecoins under direct federal oversight. By Krisztian Sandor | Edited by Jesse Hamilton Feb 17, 2026, 8:10 p.m. Make us preferred on Google Bridge co-founders Zach Abrams and Sean Yu (Bridge, modified by CoinDesk) What to know : Bridge, the stablecoin infrastructure firm owned by Stripe, said it has received conditional approval from the OCC to form a national trust bank. The license would allow the company to issue and manage stablecoins under federal oversight. The move follows the agency granting similar initial approvals to stablecoin issuers Circle, BitGo, and Ripple in December. Bridge, a stablecoin infrastructure firm owned by Stripe, said Tuesday it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to form a national trust bank. The charter would let Bridge National Trust Bank issue stablecoins, custody digital assets and manage reserves under direct federal oversight. It’s the latest step in Stripe’s broader push into blockchain-based payments since it acquired Bridge for $1.1 billion in 2024. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . "This approval positions Bridge to help enterprises, fintechs, crypto businesses and financial institutions build with digital dollars inside a clear federal framework," the company said in the press release. Bridge says its systems already meet the compliance standards outlined in the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the law passed last year that's aimed at regulating stablecoin issuers. Federal banking regulators, including the OCC, Federal Reserve and Federal Deposit Insurance Corp., haven't yet instituted the specific regulations mandated by the GENIUS Act, but they're moving through that process now. Bridge is part of a growing group of firms seeking to build stablecoin products inside a federal framework. In December, Circle, Ripple, Paxos, Fidelity Digital Assets and BitGo all received similar conditional approvals from the OCC, and Erebor Bank was granted a conditional national bank charter in October. Bridge applied for its charter in October , and the OCC's records show it signed off last week. The company currently powers stablecoin issuance for products like Phantom’s CASH and MetaMask’s mUSD via Stripe’s Open Issuance platform. The OCC has not announced a timeline for final approval. Office of the Comptroller of the Currency Bridge Stripe Stablecoins More For You Zoomex: Precise Systems of Fairness and Transparency by Design By CoinDesk Jan 31, 2026 Commissioned by Zoomex Read full story More For You Crypto venture capital firm Dragonfly raises $650 million despite 'gloom of a bear market' By Olivier Acuna | Edited by Aoyon Ashraf 20 minutes ago The firm’s fourth fund positions it alongside a16z and Paradigm even as blockchain VC fundraising contracts and investors pivot toward stablecoins and tokenized finance. What to know : Dragonfly Capital has closed a $650 million fourth fund, one of the largest recent crypto venture capital raises despite a prolonged industry downturn. Managing partner Haseeb Qureshi said the firm is doubling down on financial use cases such as stablecoins, decentralized finance, and prediction markets, while declaring that "non-financial crypto has failed." The raise comes as federal prosecutors weigh potential criminal charges against certain Dragonfly employees over the firm’s 2020 Tornado Cash investment, even as Dragonfly expands its U.S. presence alongside major crypto investors. 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