Key Takeaways
- • Coinbase received full national trust charter approval from the Office of the Comptroller of the Currency (OCC), moving beyond the conditional authorization it received in April 2026; the regulator's records show the charter became effective November 6.
- • The newly authorized entity, Coinbase National Trust Company, expands federally regulated custody and financial infrastructure services but does not authorize retail deposit-taking or lending.
- • Coinbase joins Ripple, which received full OCC approval for its national trust charter in October 2026, and Circle, in the group of crypto-native firms holding full national trust bank approval.
- • The OCC approval comes amid opposition from the Independent Community Bankers of America, which has sued the regulator over national trust charters granted to crypto companies.
Summary
Coinbase has secured a full national trust bank charter from the Office of the Comptroller of the Currency (OCC), completing its transition from conditional approval to federal authorization as a trust institution. The approval, announced November 9, places the largest US-based cryptocurrency exchange alongside Ripple and Circle, which have also received full OCC approval to operate national trust banks.
The newly authorized entity, Coinbase National Trust Company, will operate under federal oversight, giving the exchange a national regulatory framework for its trust-related activities. The charter is expected to strengthen Coinbase's institutional business, particularly digital asset custody, which the company already provides to institutional investors and several spot Bitcoin exchange-traded funds in the United States. According to the source, the approval does not make Coinbase a conventional commercial bank, as the national trust structure does not permit accepting ordinary retail deposits or issuing loans.
Coinbase received conditional approval for its application in April 2026. Before operating under the charter, the company was required to establish compliance systems, hire key personnel, strengthen risk management procedures and undergo further regulatory scrutiny. Coinbase Vice Chairman Ryan VanGrack said, "We've spent years asking for clear rules and rigorous oversight, and today's approval of our national trust charter puts more of our business behind that commitment," adding that the OCC's approval is "another major step in integrating digital assets into the core infrastructure of the American financial system."
The push for federal trust-bank authorization has gained momentum following passage of the GENIUS Act, which established a federal framework for payment stablecoins. Other crypto firms pursuing national trust charters include BitGo and Paxos, while Block and World Liberty Financial are reportedly moving toward national bank charters. The source also notes that the Independent Community Bankers of America has sued the OCC, arguing the regulator overstepped its authority by granting national trust charters to cryptocurrency companies.
The newly authorized entity, Coinbase National Trust Company, will operate under federal oversight, giving the exchange a national regulatory framework for its trust-related activities. The charter is expected to strengthen Coinbase's institutional business, particularly digital asset custody, which the company already provides to institutional investors and several spot Bitcoin exchange-traded funds in the United States. According to the source, the approval does not make Coinbase a conventional commercial bank, as the national trust structure does not permit accepting ordinary retail deposits or issuing loans.
Coinbase received conditional approval for its application in April 2026. Before operating under the charter, the company was required to establish compliance systems, hire key personnel, strengthen risk management procedures and undergo further regulatory scrutiny. Coinbase Vice Chairman Ryan VanGrack said, "We've spent years asking for clear rules and rigorous oversight, and today's approval of our national trust charter puts more of our business behind that commitment," adding that the OCC's approval is "another major step in integrating digital assets into the core infrastructure of the American financial system."
The push for federal trust-bank authorization has gained momentum following passage of the GENIUS Act, which established a federal framework for payment stablecoins. Other crypto firms pursuing national trust charters include BitGo and Paxos, while Block and World Liberty Financial are reportedly moving toward national bank charters. The source also notes that the Independent Community Bankers of America has sued the OCC, arguing the regulator overstepped its authority by granting national trust charters to cryptocurrency companies.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.