Coinbase’s US national trust bank charter takes effect
Summary
Coinbase’s national trust bank charter took effect Friday, according to the OCC. The charter permits Coinbase National Trust Company to hold digital assets for clients in a fiduciary capacity. Coinbase plans to provide institutional clients with segregated custody accounts, while staking, financing and trading would be offered through other Coinbase entities. Its application also described possible digital-asset payment products and custody services involving select smart contracts. Ripple, Circle, BitGo, Fidelity Digital Assets and Paxos have also received OCC national trust bank charters; Crypto.com and Bridge have conditional approval, while Kraken and EDX Markets are pursuing charters.
