Coinbase Wins Full Federal Trust Charter From OCC

Coinbase has won a full national trust bank charter from the Office of the Comptroller of the Currency, upgrading the conditional approval it received in April and putting its institutional custody business under direct federal supervision, the exchange said Monday.

The OCC approved the application for Coinbase National Trust Company last Friday, the company said in a blog post. OCC licensing records, as reported, show the chartering process was completed Nov. 6.

Coinbase applied in October 2025 and received preliminary approval on April 2. In the intervening months it had to finish its organizational and operational preparations before the OCC would let the trust bank open.

“This charter allows us to bring clear and consistent federal uniformity to our industry-leading custody capabilities,” Coinbase wrote, adding that it strengthens the regulatory framework under which it serves customers. The company said it has served as a custodian for more than 14 years.

What the charter allows

A national trust bank can hold assets for clients as a fiduciary, and Coinbase’s focus is custody for institutional customers. It is not a commercial bank. It cannot take ordinary retail deposits or make loans, and the charter does not authorize it to issue stablecoins.