Bridge has gained conditional approval to set up ​a national ⁠trust bank from a top ‌U.S. financial regulator, the Stripe-owned stablecoin infrastructure provider said ​on Tuesday.

Crypto giants, including Ripple and Circle, ​in December received preliminary ​approval to establish national trust banks, marking a significant step in ⁠integrating digital assets into the regulated banking system.

The preliminary approval by the Office of the Comptroller of the Currency (OCC) "positions Bridge ​to ‌help enterprises, fintechs, ⁠crypto businesses, ⁠and financial institutions build with digital dollars inside ​a clear federal framework," ‌it said.

If Bridge ⁠receives final OCC approval, it will be authorized to offer businesses custody of digital assets, stablecoin issuance and orchestration, and stablecoin reserve management.

World Liberty Financial, a crypto venture backed by the family of President Donald Trump, said ‌in January its subsidiary had filed an ⁠application to establish a ​national trust bank focused on stablecoin operations.

Stripe acquired Bridge in October 2024, in ​a deal ‌reportedly valued at $1.1 billion.

 

 

 

(Reporting by ⁠Juby Babu in ​Mexico City; Editing by Sriraj Kalluvila)