Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights , opens new tab
Feb 17 (Reuters) - 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.
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.
Stripe acquired Bridge in October 2024, in a deal reportedly valued at $1.1 billion.
Our Standards: The Thomson Reuters Trust Principles. , opens new tab