Stablecoin Issuers Race for US Bank Charters as Stripe’s Bridge Joins the Queue

In brief Bridge, Stripe’s stablecoin arm, has applied to the OCC to form a national trust bank under the GENIUS Act. The charter would place its stablecoin issuance and reserves under a unified federal framework. Bridge joins Circle, Paxos, Ripple, and Coinbase in seeking federal trust bank approval. Bridge, the stablecoin infrastructure arm of Stripe,...