Coinbase really did get a “bank charter” this time—but don’t get the wrong idea: it hasn’t become a bank. The U.S. Office of the Comptroller of the Currency (OCC) has officially approved Coinbase National Trust Company. The charter takes effect on November 6, and Coinbase announced it on November 9. This means its institutional custody business will now fall under federal banking supervision. Over the next three years, it will gradually migrate custody operations from its New York state trust company. But the restrictions are explicit: it cannot take deposits, make loans, or issue stablecoins, and it must maintain $60 million in Tier 1 capital for the first three years. Coinbase held $245.7 billion in assets under custody as of the end of June 2025. Ripple also just received a similar charter on October 26. The path to compliance is opening up, but retail customers shouldn’t expect to open an account and deposit money at Coinbase—this charter has nothing to do with you. #Coinbase #OCC