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 (OCC), according to co-founder Zach Abrams.
This move expands the list of companies seeking chartering under the Genius Act, a federal regulatory framework for stablecoins established in June.
- Coinbase
- Circle
- Ripple
- Paxos
have also applied for trust charters with the OCC this year.
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.
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