Coinbase gains full OCC trust charter for crypto custody
6.8 Banking Coinbase secured a full OCC trust bank charter, enabling federally regulated crypto custody and payments for institutions, but not retail deposits or lending. This marks growing regulatory confidence in crypto firms.
Coinbase has obtained a full national trust bank charter from the U.S. Office of the Comptroller of the Currency (OCC), upgrading its status from conditional to fully chartered. This approval enables Coinbase to operate as a federally regulated trust bank, focusing on institutional digital asset custody and payment services. However, the charter does not allow retail deposits, traditional lending, or direct stablecoin issuance. Over the next three years, Coinbase will gradually transition its New York-regulated custody business while retaining its state trust charter and BitLicense. The charter was granted after extensive compliance work, personnel expansion, and regulatory review, following an application process that began in October 2025. The GENIUS Act, signed in July 2025, facilitated such federal trust approvals for crypto firms. Coinbase now joins other crypto companies, like Ripple, in securing federal trust bank charters. This development signals increased regulatory confidence in Coinbase’s institutional services and may influence the broader cryptocurrency ecosystem.
