NewsBTC
15 October 2025
2 0

Stripe’s Bridge Applies for US Trust Bank Charter Under GENIUS Act

Key Points:

  • Stripe's stablecoin division, Bridge, seeks a US national trust bank charter under the GENIUS Act, joining other firms like Circle, Ripple, Paxos, and Coinbase in aiming for federal oversight for stablecoin issuers.
  • The GENIUS Act mandates 100% cash or Treasury reserves and monthly public disclosures for stablecoin issuers, indicating a shift towards regulated digital payments.
  • This development suggests the emergence of a 'Stablecoin Season,' where regulated digital assets integrate with traditional financial systems.
  • Bridge’s application, if approved, would allow Stripe to manage stablecoins under a federal framework, streamlining its operations and compliance.
  • Stablecoins currently have over $315 billion in circulation, with projections to attract up to $1 trillion in deposits from banks within three years.
  • As stablecoins gain legitimacy, they are poised to become a primary settlement method online due to their speed, cost-effectiveness, and compliance.
  • Stripe’s Bridge also launches Open Issuance, enabling apps to create their own stablecoins using Bridge's infrastructure, with wallets like Phantom and MetaMask already participating.
  • Best Wallet ($BEST) is emerging as a significant player in this space, offering secure custody, staking rewards, and presale access, leveraging the regulatory environment to enhance user offerings.