Bridge, a Stripe company, requests a banking license in the US to issue stablecoins
By Angel Di Matteo @shadowargel
The company acquired by Stripe seeks to become a fiat bank regulated by the OCC, with the objective of issuing and custody stablecoins under federal supervision.
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- Bridge filed an application for a national banking license with the OCC.
- The measure would place the firm under direct supervision of federal authorities.
- Stripe acquired Bridge for USD $1.1 billion to strengthen its payments infrastructure with Blockchain.
Bridge, the firm specialized in infrastructure for stablecoins acquired by stripe, filed a formal application for a national bank license with the United States Office of the Comptroller of the Currency (OCC)as confirmed by its co-founder Zach Abrams this Wednesday.
According to CoinDesk, If this measure is approved, it would place the company under federal supervision and allow it to offer services such as custody of digital assets, issuance of stablecoins and management of reserves associated with said tokens, Abrams explained.
Stripe and expansion into regulated financial services
Bridge’s decision is part of the strategy of Stripe to more deeply integrate blockchain technology into its payments ecosystem. The company acquired Bridge last year for USD $1.1 billion, and recently presented its service Open Issuancedesigned so that other companies can launch their own stablecoins using the latter’s infrastructure.
Among the projects that already operate with this technology are CASH from the wallet Phantasm, mUSD from MetaMask and USDH from Hyperliquid, that use Bridge as issuing partner.
Stripe With this initiative, it seeks to position itself as a leader in the development of financial solutions based on blockchain, connecting the traditional system with the digital economy.
The regulatory rise of the stablecoin sector
Zach Abrams explained on the social network Bridge part of the conviction that stablecoins will be “a central and regulated financial block.” According to the executive, this structure will allow “tokenize trillions of dollars and make that future possible.”
Bridge is not the only company seeking to operate under a federal banking framework. Companies like Circle, Ripple and Paxos They have also approached authorities to obtain greater regulatory clarity and operate with support similar to that of traditional financial institutions.
The movement occurs in a context of strong growth for the stablecoin market, which already reaches a capitalization close to USD $300,000 milliondriven in part by the recent enactment of the Law GENIUS, which provides greater legal certainty to issuers in the United States.
Stablecoins: a bridge between traditional finance and Blockchain
Stablecoins, cryptocurrencies linked to fiat currencies such as the US dollar, have established themselves as a pillar of the crypto ecosystem thanks to their use in cross-border payments, e-commerce and decentralized finance. (DeFi).
Their relative stability makes them a key tool for mass blockchain adoption, allowing for fast, low-cost transactions without the volatility of assets like Bitcoin either Ethereum.
Bridge, when seeking approval from the OCC, attempts to anticipate a scenario where regulation will be a determining factor for the legitimacy of the sector. If the application is approved, the company would become one of the first stablecoin platforms with a national banking license in the United States.
A step towards the institutionalization of digital money
Bridge’s application marks a turning point for the industry. As tech giants like Stripe move into the world of tokenized finance, the line between traditional banks and crypto platforms is beginning to blur.
Regulatory support would not only ensure the safety of funds but also open the doors to mass adoption by businesses and consumers. For stripe, This movement consolidates its vision of an interoperable global financial system, where money flows freely between the fiat and digital worlds.
Article written with the help of an AI content writer, edited by Angel Di Matteo / DailyBitcoin
Original image from DiarioBitcoin, created with artificial intelligence, free to use, licensed under Public Domain.
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