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Coinbase secures full national trust bank charter from OCC

The Office of the Comptroller of the Currency has granted Coinbase a full national trust charter, upgrading its provisional status to provide federally regulated custody and payment services.

Graphic featuring the seal of the U.S. Office of the Comptroller of the Currency alongside the Coinbase logo.
Image: @BSCNews

The Office of the Comptroller of the Currency (OCC) has granted Coinbase full approval to operate as a nationally chartered trust bank, upgrading the crypto exchange's previous conditional trust status to a full federal charter. Coinbase stated that the regulator approved the license in the preceding week and that it is now effective.[3][2][7][6]

The national trust charter places Coinbase alongside firms such as Circle and Ripple under federal trust-bank oversight. The authorization enables Coinbase to expand its institutional custody offerings, process fiduciary trusts and fiat settlements, and push deeper into payments. According to Bloomberg, the charter could also pave the way for Coinbase to issue its own stablecoins or administer them for other firms.[1][2][4][5]

The trust charter is limited in scope and does not function as a full commercial banking license, meaning Coinbase cannot take ordinary consumer deposits or issue loans. However, BSCNews reported that the charter grants Coinbase direct access to central bank clearing systems, helping reduce its reliance on third-party banking intermediaries.[4][5]

Key facts

  • The OCC elevated Coinbase's status from a conditional approval to a full national trust bank charter.
  • Coinbase said the charter was approved the prior week and is now effective.
  • The charter supports custody, payments, and potential stablecoin issuance or administration, but does not allow Coinbase to take traditional deposits or make loans.
  • OCC application records show the entity filed under the name 'Coinbase National Trust Company' with charter number 25390, listing its proposed headquarters at One Madison Avenue in New York, NY.
  • BSCNews reported the charter gives Coinbase direct access to central bank clearing systems and allows it to handle fiat settlements and fiduciary trusts.

Sources 路 7 sources

  1. TB

    The Block@TheBlockCoPost on X 路

    THE BLOCK: Coinbase has secured final OCC approval to operate as a nationally chartered trust bank, joining Circle and Ripple. The charter brings its trust-bank custody operations under federal oversight and lays the groundwork for new payments and related services. https://t.co/wTFBWlKfyR

    Open source
  2. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃COINBASE GETS FINAL OCC APPROVAL FOR NATIONAL TRUST BANK CHARTER! @Coinbase said the OCC has fully signed off on its request to operate as a nationally chartered trust bank, with the license approved last week and now effective. The charter lets Coinbase expand its custody business and push deeper into payments. It could also open the door for Coinbase to issue its own stablecoins and support other firms doing the same, per Bloomberg.

    Open source
  3. CO

    CoindeskArticle 路

    Coinbase gets full U.S. trust charter from federal banking regulator The Office of the Comptroller of the Currency elevated the biggest U.S. exchange's trust status from conditional to a full-fledged charter, the company said.

    Open source
  4. WB

    Wu Blockchain@WuBlockchainPost on X 路

    Coinbase Wins Final OCC Approval for National Trust Bank Charter Coinbase has received final approval from the U.S. Office of the Comptroller of the Currency for its national trust bank charter, following conditional approval in April. The charter will support the company鈥檚 crypto custody, payments and potential stablecoin issuance or administration activities, but does not allow it to take ordinary deposits or make loans like a traditional commercial bank.

    Open source
  5. BS

    BSCN@BSCNewsPost on X 路

    Coinbase Wins Federal Approval to Operate as a National Trust Bank @Coinbase has been granted a federal charter by US banking regulators to become a national trust bank. This means the exchange will have direct access to central bank clearing systems, reducing its dependence on other banks. It will also be able to process fiat settlements, institutional custody, and fiduciary trusts. Getting the trust bank charter does not mean that Coinbase has obtained a commercial banking license because its scope will be limited to custody and trust functions only.

    Open source
  6. CO

    CoinDesk@CoinDeskPost on X 路

    BREAKING: @Coinbase receives full OCC trust bank approval, converting its provisional charter to a fully chartered national trust bank, allowing it to offer federally regulated custody and payment services in the U.S. https://t.co/N44kc1lDM2

    Open source
  7. CN

    crypto.news@cryptodotnewsPost on X 路

    BREAKING: Coinbase receives full U.S. federal approval to operate as a national trust bank The Office of the Comptroller of the Currency (OCC) has upgraded Coinbase鈥檚 charter from conditional to full approval, allowing the exchange to operate as a federally chartered trust bank. https://t.co/reeamdN5aK

    Open source