A subsidiary of Stripe, Bridge, has received conditional approval for a national trust bank charter from the Office of the Comptroller of the Currency (OCC), according to a company blog post released Tuesday.
Public records show that Bridge’s application, filed in October, was conditionally approved on February 12.
If finalized, the charter would permit Bridge to issue stablecoins, provide digital asset custody services, and manage reserves under direct federal oversight by the OCC. 
What a National Trust Charter Allows
A national trust bank charter is a limited-purpose license that allows firms to engage in fiduciary and custody activities without offering traditional lending services. For digital asset firms, this structure provides a pathway to operate within the federal banking framework without becoming a full-service commercial bank.
Bridge said the charter would position the company to support enterprises, fintech firms, crypto businesses, and financial institutions building with digital dollars within a defined federal regulatory perimeter.
The company also described its compliance framework as “GENIUS ready,” referencing the stablecoin legislation passed last year that established guardrails for issuance, reserves, and oversight.
Timeline to Final Approval
Conditional approval does not automatically grant full operating authority. There is no fixed timeline for final approval, as applicants must satisfy additional supervisory requirements before the charter becomes fully effective.
Recent precedent suggests the process may take several months. Erebor Bank, for example, remained in conditional status for roughly four months before receiving full approval for its national banking charter.
Broader Trend of Stablecoin Charter Applications
Bridge’s approval follows a wave of similar conditional approvals issued in December by the OCC. Among those receiving conditional trust charters were:
-
Circle Internet Group
-
Ripple
-
Paxos Trust
-
BitGo
-
Fidelity Digital Assets
The approvals appear to have encouraged additional applications. Firms reportedly seeking similar trust structures include World Liberty Financial, associated with the Trump family, and Laser Digital, a digital asset unit spun out of Nomura.
Industry Pushback
Not all industry participants support the expansion of limited-purpose trust charters for digital asset firms.
In October, the Bank Policy Institute (BPI) criticized what it described as an increase in digital asset companies pursuing trust charters without intending to operate traditional trust businesses.
BPI warned that allowing firms to provide bank-like services under a lighter regulatory structure could blur statutory distinctions between charter types and potentially increase systemic risk.
Paige Pidano Paridon, co-head of regulatory affairs at BPI, argued that digital asset firms seeking to engage in traditional banking activities should pursue full-service national bank charters rather than limited-purpose trust licenses.
At the same time, BPI acknowledged that digital assets can play a role in the U.S. financial system, provided institutions offering comparable services are subject to equivalent regulatory standards.
Regulatory Significance
The OCC’s recent activity signals a growing effort to integrate stablecoin issuers and digital asset custodians into the federal banking system through defined supervisory channels.
For companies like Bridge, a finalized trust charter would provide a federally recognized framework for stablecoin issuance and custody operations. For regulators and traditional banking groups, the key question remains whether limited-purpose charters strike the appropriate balance between innovation and regulatory consistency.
