Coinbase secures a U.S. federal trust bank charter! Institutional crypto custody takes another step forward
November 14 — Coinbase has officially received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
In simple terms, this means Coinbase’s institutional digital asset custody business will now fall under a unified federal regulatory framework, rather than relying solely on its New York State license to operate.
The charter is primarily intended to help institutional clients securely custody digital assets. However, it is not a traditional commercial bank charter. Coinbase cannot accept deposits from ordinary users or engage in fractional-reserve banking. Staking, financing, and trading will remain the responsibility of other business entities.
As of September 30, assets on the Coinbase platform had reached $377 billion.
This approval means more than just another license: it marks another step forward in the connection between the traditional financial system and the crypto industry. Compliance and custody capabilities remain essential for institutional funds looking to enter the crypto market.$AKE $SHELL $TAC
November 14 — Coinbase has officially received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
In simple terms, this means Coinbase’s institutional digital asset custody business will now fall under a unified federal regulatory framework, rather than relying solely on its New York State license to operate.
The charter is primarily intended to help institutional clients securely custody digital assets. However, it is not a traditional commercial bank charter. Coinbase cannot accept deposits from ordinary users or engage in fractional-reserve banking. Staking, financing, and trading will remain the responsibility of other business entities.
As of September 30, assets on the Coinbase platform had reached $377 billion.
This approval means more than just another license: it marks another step forward in the connection between the traditional financial system and the crypto industry. Compliance and custody capabilities remain essential for institutional funds looking to enter the crypto market.$AKE $SHELL $TAC
