Coinbase receives final OCC approval for a national trust bank charter
The Office of the Comptroller of the Currency granted Coinbase final approval to charter Coinbase National Trust Company, converting its conditional April approval into a full federal trust bank charter. The charter permits the exchange to offer federally supervised digital‑asset custody and payment services for institutional clients, but it does not allow retail deposits, loans or commercial banking. Coinbase said the new entity will migrate its existing custody business over a three‑year period.
Why it matters
The approval gives Coinbase a uniform federal regulatory framework, which could make its custody services more attractive to institutional investors (the company says). Analysts note that the news did not lift the stock, which fell 1.5% in pre‑market trading (the company’s share price was $134.76) despite the regulatory win.
Key facts
- 1The OCC approved Coinbase National Trust Company as a national trust bank, upgrading its conditional status from April 2 to a full charter. tradingview.com
- 2The charter requires the bank to maintain at least $60 million in tier‑1 capital and the greater of 50% of that amount or $30 million in eligible liquid assets. tradingview.com
- 3Coinbase holds $376.6 billion in assets on its platform as of September 30. stocktwits.com
- 4COIN stock fell 1.51% to $134.76 after the announcement. ambcrypto.com
- 5The migration of Coinbase’s custody business to the national trust bank is planned to take three years. tradingview.com
- 6The OCC decision does not permit Coinbase to issue stablecoins without additional approval. finance.yahoo.com
Summary written by AlphAI AI Desk from 18 of 18 sources. Not investment advice. Figures are as stated by the linked sources.