Stripe, the payments giant, is making a bold move into crypto. Its stablecoin division, Bridge, is applying for a U.S. national trust bank charter with the Office of the Comptroller of the Currency (OCC). If approved, Stripe would join companies like Paxos and Anchorage Digital in operating under direct federal oversight — a big step for credibility in the stablecoin world.

But Stripe isn’t just planning to issue a token of its own. It wants to build the rails that let any company create and manage its own stablecoin.

From Payments to Stablecoin Infrastructure

Earlier this year, Stripe acquired Bridge, a startup that provides the tech to issue, move, and manage stablecoins. With that acquisition, Stripe signaled it wasn’t content to just process payments — it wants to power the next wave of digital money.

Now Stripe has announced Open Issuance, a service that lets businesses launch their own stablecoins in days instead of months. The platform handles minting, burning, and managing reserves, while giving issuers flexibility over how their tokens are backed — whether with cash, U.S. Treasuries, or a mix.

Companies that use Open Issuance keep the revenue generated from their reserves, minus a small service fee Stripe charges. Big names in finance, including BlackRock and Fidelity, are reportedly involved as asset managers to help oversee reserves.

Why the OCC Charter Matters

A national trust bank charter would put Stripe under the same regulatory umbrella as traditional banks when it comes to custody and stablecoin reserves.

  • One license, not 50. Instead of applying for licenses state by state, Stripe could operate nationally under federal rules.

  • Greater trust. Businesses and regulators would see stablecoins issued through Stripe as safer, since they’d be backed by a regulated entity.

  • Custody power. Stripe would be able to legally hold reserves and handle settlements directly.

This move also lines up with the GENIUS Act, a U.S. law passed in 2025 to regulate stablecoins. The law requires issuers to operate under banking rules, and Stripe is trying to get ahead of that curve.

A Broader Trend in Stablecoins

Stripe isn’t alone.

  • Circle, issuer of USDC, has applied for its own federal charter.

  • Paxos and Anchorage already hold charters.

  • Ripple has filed for one too, tying it to its RLUSD stablecoin.

At the same time, PayPal, Revolut, and even large U.S. banks are exploring stablecoin offerings. Stripe’s advantage: instead of pushing a single token, it’s positioning itself as the infrastructure provider that powers many.

Early Experiments: Visa + Bridge

Stripe’s vision isn’t just theory. In April 2025, Visa partnered with Bridge to launch stablecoin-linked cards in Latin America. These cards let users pay in stablecoins, while Bridge handles the behind-the-scenes conversion to local currency.

It’s a small glimpse of how stablecoins can move beyond crypto exchanges and into everyday finance.

Why It Matters

Stripe believes stablecoins can unlock “trillions of dollars in tokenized assets.” To get there, though, the industry needs:

  • Regulation that builds trust,

  • Infrastructure that makes it easy for businesses to participate, and

  • Real-world use cases that show stablecoins are more than just speculative tokens.

If Stripe gets its OCC charter and scales Open Issuance, it could become the default platform for companies that want to tokenize money — just like Stripe today is the default payments processor for many online businesses.

The Risks

  • Regulatory uncertainty. The OCC takes months to review applications, and approval isn’t guaranteed.

  • Market acceptance. Businesses already rely on tokens like USDC and USDT. Stripe will need to convince them to issue or switch.

  • Fragmentation. If everyone issues their own stablecoin, liquidity and interoperability could become a challenge.

Final Word

Stripe is betting that the future of money is programmable, and stablecoins will be at the center of it. By applying for a bank charter and launching Open Issuance, Stripe is aiming not just to play in the stablecoin market, but to become its backbone.

Whether this bet pays off depends on regulation, adoption, and execution. But one thing is clear: stablecoins are no longer just a crypto experiment — they’re becoming a serious part of mainstream finance.