Stripe’s Bridge Seeks Federal Charter Ahead of Stablecoin Rules

Stripe Inc. unit Bridge intends to seek a federal banking charter, aiming to get ahead of looming rules on stablecoins after Congress passed legislation setting a framework for the tokens.

Bridge co-founder Zach Abrams confirmed the plans to apply for a national trust charter in an emailed statement to Bloomberg, adding that Bridge also intends to apply for a New York State trust charter. The Information first reported the news.

Stablecoins, typically pegged one-to-one to currencies such as the dollar, are widely used as a bridge in and out of the crypto economy. The industry has swelled in recent months ...