Coinbase Joins Circle, Ripple With Final OCC Approval for Federal Trust Bank Charter
Summary
Coinbase received final approval from the OCC to establish Coinbase National Trust Company, expanding its digital-asset custody business under a federal framework. The charter follows conditional approval in April and builds on Coinbase’s existing New York-regulated custody operation. The company says it will not take retail deposits or operate as a commercial bank. Coinbase joins Circle and Ripple, which also recently received final approvals for national trust charters. The approvals face opposition from Sen. Elizabeth Warren and a community banking group that has sued the OCC.
