Stripe's Bridge Aims to Set Stablecoin Standards with Federal Charter Bid

Stripe-owned stablecoin infrastructure firm Bridge has applied for a national bank trust charter with the U.S. Office of the Comptroller of the Currency (OCC), marking a pivotal regulatory move to formalize its role in the $300 billion stablecoin market. The application, confirmed by co-founder Zach Abrams, aims to position Bridge under federal oversight, enabling it to issue and manage stablecoins while aligning with the GENIUS Act-a landmark 2025 law that established a regulatory framework for the asset class .

The GENIUS Act, signed into law by President Donald Trump in July, created a dual-track system for stablecoin issuers, allowing compliance through either federal or state regulators. Bridge's application aligns with this framework, which mandates 1:1 reserve backing for stablecoins and imposes strict transparency requirements. Abrams emphasized that the charter would enable Bridge to "tokenize trillions of dollars" by providing a compliant infrastructure for stablecoin issuance, custody, and reserve management .

The move reflects broader industry trends, as companies like Circle, Paxos, and Anchorage Digital also seek federal charters to operate within the GENIUS Act's parameters. This surge underscores the sector's growth, driven by stablecoins' increasing use in cross-border payments and their potential to streamline financial transactions .

Stripe acquired Bridge for $1.1 billion in 2024, integrating it as a cornerstone of its blockchain-powered payments strategy. The firm has since launched services such as Open Issuance, which allows businesses to create custom stablecoins using Bridge's infrastructure. Notable partners include crypto wallet providers Phantom, MetaMask, and Hyperliquid, which rely on Bridge to issue stablecoins like CASH, mUSD, and USDH .

The application for a federal charter is part of Stripe's broader push to dominate the stablecoin ecosystem. In September, the company announced its Open Issuance platform, which simplifies stablecoin creation for businesses. By securing a charter, Bridge would gain the authority to custody client assets and operate under a unified regulatory framework, enhancing trust in its services .

The application has drawn attention for its potential to reshape the stablecoin landscape. Analysts note that federal charters could standardize practices across the industry, reducing the regulatory fragmentation that has historically hindered adoption. The GENIUS Act's provisions, including bankruptcy protections for stablecoin holders and anti-money laundering (AML) requirements, are expected to bolster consumer confidence .

However, challenges remain. The OCC's approval process is rigorous, involving scrutiny of capital adequacy, risk management, and compliance protocols. If approved, Bridge would join a select group of firms operating under federal oversight, competing with established players like Circle and Paxos. The outcome could also influence how other fintech companies navigate the evolving regulatory environment .

The U.S. is not alone in regulating stablecoins. The European Union's Markets in Crypto-Assets (MiCA) framework and Hong Kong's Stablecoin Ordinance have also introduced rules for the asset class. The GENIUS Act's emphasis on U.S. dollar-backed stablecoins, however, positions the U.S. as a key player in shaping global standards.

As stablecoins gain traction, their role in cross-border payments and tokenized assets is expected to expand. With Bridge's application, Stripe aims to solidify its position at the intersection of traditional finance and blockchain innovation-a move that could accelerate the adoption of digital currencies in mainstream commerce .

[1] Coindesk, "Stripe's Bridge Applies for National Bank Trust Charter to Expand Stablecoin Business" (https://www.coindesk.com/business/2025/10/14/stripe-s-bridge-applies-for-national-bank-trust-charter-to-expand-stablecoin-business)

[4] Bloomberg, "Stripe's Bridge Seeks Federal Charter Ahead of Stablecoin Rules" (https://www.bloomberg.com/news/articles/2025-10-01/stripe-s-bridge-seeks-federal-charter-ahead-of-stablecoin-rules)

[6] Paul Hastings, "The GENIUS Act: A Comprehensive Guide to US Stablecoin Regulation" (https://www.paulhastings.com/insights/crypto-policy-tracker/the-genius-act-a-comprehensive-guide-to-us-stablecoin-regulation)

[10] World Economic Forum, "Stablecoin Regulation: GENIUS Act and Global Implications" (https://www.weforum.org/stories/2025/07/stablecoin-regulation-genius-act/)

[12] CoinLaw, "Stripe Launches Stablecoin Service, Seeks Federal Charter" (https://coinlaw.io/stripe-launches-stablecoin-service-federal-charter/)