Coinbase Secures OCC Approval for National Trust Charter
Summary
Coinbase received final, unconditional approval from the OCC for a federal national trust bank charter, replacing its patchwork of state licenses with a single federal supervisory framework. The charter is expected to support expanded digital-asset custody and, over time, stablecoin and payments services. It does not provide FDIC deposit insurance. The approval follows conditional charters for Coinbase and other crypto firms, including a recent final approval for Ripple. Banking groups are challenging the OCC’s approach in court, arguing the charters grant bank-like powers without equivalent requirements. The legal outcome could affect existing and future crypto trust banks.
