How a Bridge got a Big Badge: The Curious Case of Stablecoins and a Bank Charter! 🎩💸

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What to know:

  • Once upon a time, Stripe’s fancy new toy, Bridge, decided to grow up and applied for a shiny, official “bank” certificate from the U.S. government-imagine that, a bank for coins! 🏦✨
  • This little adventure means Bridge might soon dance under the watchful eye of big, bossy regulators, and it’ll be allowed to issue and babysit those oh-so-popular stablecoins and their piggy reserves.
  • Stablecoins are the rockstars of the financial world, boasting a gargantuan $300 billion in their piggy bank, and they’re taking trips all over the globe-goodbye, messy currency conversions! 🌍💸

Picture this: Bridge, the clever stablecoin builder, got a special invite from the U.S. OCC to become a proper bank-complete with all the legal mumbo-jumbo and regulatory red tape. Zach Abrams, the boss guy, said on Wednesday that if the big boss regulator gives a thumbs up, Bridge can play by the rules, keep your coins safe, and even print new ones if needed. Because, why not? After all, who doesn’t want a regulated stablecoin empire? 🏛️🎩

“We’ve always believed stablecoins will be the foundation of the money castle,” Zach proclaimed, with a wink. “With this fancy paperwork, we can turn trillions of dollars into tokens and make the future happen. Easy as pie! 🍰”

Meanwhile, other coin-crazy companies like Circle, Ripple, and Paxos are all in line, waiting for their own government-approved gold star. Stablecoins, those digital dollars that stick to real dollars like glue, are booming like a fireworks show and are now worth a colossal $300 billion! Talk about a digital gold rush, eh?

Stripe, the wizard behind the curtain, just rolled out a new trick called Open Issuance-helping companies whip up their own stablecoins quicker than you can say “blockchain magic.” And guess what? Several stablecoins like Phantom’s CASH and MetaMask’s mUSD rely on Bridge to do their magic tricks. Stripe bought Bridge last year for a neat $1.1 billion-big money for a big dream! 💰🚀

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2025-10-14 21:50