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.
- Coinbase
- Circle
- Ripple
- Paxos
have also applied for an OCC charter this year. According to co-founder Zach Abrams, this application expands the list of companies lining up for chartering under the Genius Act.
The Genius Act established a federal regulatory framework for stablecoins.
A trust charter would not allow Bridge to lend or take insured deposits, unlike a traditional bank charter.
Author's summary: Stripe's Bridge applies for a national trust charter.