Feb 17 (Reuters) – Bridge has gained conditional approval to arrange a nationwide trust bank from a high U.S. monetary regulator, the Stripe-owned stablecoin infrastructure supplier mentioned on Tuesday.
Crypto giants, together with Ripple and Circle, in December obtained preliminary approval to establish nationwide trust banks, marking a vital step in integrating digital belongings into the regulated banking system.
The preliminary approval by the Workplace of the Comptroller of the Foreign money (OCC) “positions Bridge to assist enterprises, fintechs, crypto companies, and monetary establishments construct with digital {dollars} inside a clear federal framework,” it mentioned.
If Bridge receives closing OCC approval, will probably be licensed to provide companies custody of digital belongings, stablecoin issuance and orchestration, and stablecoin reserve administration.
World Liberty Monetary, a crypto enterprise backed by the household of President Donald Trump, mentioned in January its subsidiary had filed an utility to establish a nationwide trust bank targeted on stablecoin operations.
Stripe acquired Bridge in October 2024, in a deal reportedly valued at $1.1 billion.
(Reporting by Juby Babu in Mexico Metropolis; Enhancing by Sriraj Kalluvila)
