XRP News Today: Stripe's Bank Charter Bid Aims to Tokenize Trillions, Reshape Payments Landscape

Stripe's stablecoin unit, Bridge, has applied for a national bank trust charter with the U.S. Office of the Comptroller of the Currency (OCC), a move co-founder Zach Abrams said could enable the firm to "tokenize trillions of dollars" and expand its role in global payments . The application, if approved, would place Bridge under federal regulatory oversight, allowing it to issue and manage stablecoins while maintaining reserves, a critical step as the stablecoin market-now a $300 billion asset class-grows in prominence for cross-border transactions .

Bridge's push for a charter aligns with a broader industry trend. Stablecoin issuers like Circle, Ripple, and Paxos have also filed for federal charters, seeking to operate under a unified regulatory framework. This surge follows the enactment of the GENIUS Act, which established clear federal guidelines for stablecoin reserves, redemption rights, and consumer protections . The law, signed into law in July 2025, mandates that stablecoins be fully backed by high-quality assets like U.S. Treasuries and cash equivalents, while requiring monthly reserve disclosures and audits .

For Stripe, the move underscores its ambition to dominate blockchain-powered payments. The company recently launched an "Open Issuance" platform, enabling businesses to create custom stablecoins using Bridge's infrastructure. Major crypto wallets like Phantom's CASH, MetaMask's mUSD, and Hyperliquid's USDH already rely on Bridge for issuance . Stripe's $1.1 billion acquisition of Bridge in 2024 signaled its intent to integrate stablecoins into its core payment processing business, a strategy now accelerating with the backing of clearer regulations .

However, the rush for federal charters has sparked regulatory debate. The Independent Community Bankers of America (ICBA) has criticized the OCC's 2021 policy shift, which allowed nonbank fintechs to seek trust charters. ICBA argues that such entities, including Circle and Ripple, pose risks to financial stability by offering deposit-like services without the same capital and regulatory safeguards as traditional banks . The group recently opposed Circle's proposed "First National Currency Bank," warning it could drain deposits from the banking system and increase fraud .

Ripple, meanwhile, is in the final stages of its own charter application. The company's proposed "Ripple National Trust Bank" could receive a decision by October, according to OCC timelines . If approved, Ripple would join Anchorage Digital Bank as the second crypto-native firm with a federal charter, further legitimizing stablecoin infrastructure as a core financial service .

The regulatory landscape remains contentious. While the GENIUS Act has provided clarity, critics argue it may not address systemic risks, such as the potential for reserve asset collapses during liquidity crises . Proponents, however, view the law as a foundation for innovation, enabling faster, cheaper cross-border payments and broader adoption of tokenized assets.

As the OCC evaluates applications, the outcome could reshape the stablecoin sector. For Stripe, a successful charter would not only validate its infrastructure but also position it to compete with traditional payment networks. For regulators, the challenge lies in balancing innovation with safeguards to prevent a repeat of past crises, such as the 2022 collapse of TerraUSD.

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

: 2. Flood of national bank trust charter applications ... (https://www.icba.org/newsroom/blogs/main-street-matters/2025/08/11/flood-of-national-bank-trust-charter-applications-demands-policy-response-from-occ)

: 3. Blog post: Flood of charter applications demands OCC response (https://www.icba.org/newsroom/news-and-articles/2025/08/12/blog-post-flood-of-charter-applications-demands-occ-response)

: 4. Ripple National Trust Bank Charter Filing Goes Public (https://www.cryptotimes.io/2025/10/06/ripple-national-trust-bank-charter-filing-goes-public/)

: 9. Ripple, Circle, and Paxos Drive Stablecoin Regulation ... (https://coincentral.com/ripple-circle-and-paxos-drive-stablecoin-regulation-battle-to-the-occ/)

: 10. Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025 (https://www.congress.gov/crs-product/IN12553)

: 11. The GENIUS Act: A Comprehensive Guide to US Stablecoin ... (https://www.paulhastings.com/insights/crypto-policy-tracker/the-genius-act-a-comprehensive-guide-to-us-stablecoin-regulation)

: 13. Stripe is already a payments colossus. Now it wants to make (https://fortune.com/crypto/2025/10/01/stripe-crypto-stablecoins-open-issuance-bridge-blockchain-tempo/)

: 14. How will the GENIUS Act work in the US and impact the ... (https://www.weforum.org/stories/2025/07/stablecoin-regulation-genius-act/)

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