Coinbase’s US national trust bank charter took effect on Friday, according to the Office of the Comptroller of the Currency, allowing Coinbase National Trust Company to hold digital assets on behalf of clients as a fiduciary.
Coinbase received preliminary approval in April 2026, according to the OCC’s filing record, and plans to offer institutional clients segregated custody accounts, with access to staking, financing and trading through other Coinbase entities, according to its charter application. Its application also outlined plans to explore digital asset payment products and custody services that would let clients interact with select smart contracts.
The OCC’s filing record shows Coinbase applied for the charter in October 2025. The exchange joins other crypto firms that have received national trust bank charters from the OCC, including Ripple, Circle, BitGo, Fidelity Digital Assets and Paxos. Crypto.com and Stripe-owned Bridge received conditional approval, while Kraken and EDX Markets continue to pursue charters.
Analysis
Why This Matters
- The charter places Coinbase under federal regulatory oversight for its custody business, potentially increasing institutional confidence in crypto asset safekeeping.
- The ability to offer segregated custody accounts with integrated staking, financing and trading could pull more institutional money into digital assets.
- Coinbase’s exploration of payment products suggests a push into consumer-facing crypto payments, a sector that has struggled to gain mainstream adoption.
Background
Coinbase, one of the largest public cryptocurrency exchanges, has long sought a federal banking charter to expand beyond its state-by-state licensing regime. The national trust bank charter is a type of limited-purpose bank charter that lets the holder act as a fiduciary, a role traditionally reserved for banks and trust companies. The OCC has granted similar charters to a handful of crypto firms since 2020, part of an effort to bring digital asset services under consistent federal rules.
Key Perspectives
Coinbase: plans to expand its institutional crypto custody business under the federal charter and is exploring digital asset payment products, according to its charter application.
OCC: the charter took effect on Friday, according to the agency’s filing record.
What to Watch
- Whether Coinbase launches the digital asset payment products it outlined in its charter application.
- How the OCC treats future applications from Kraken and EDX Markets, which are still pursuing charters.
- Whether other crypto exchanges follow Coinbase’s path as the regulatory landscape for digital assets becomes clearer.
Checked
10 claims in this story checked against 1 source: 10 supported.
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- SupportedThe OCC said Coinbase’s US national trust bank charter took effect on Friday.Cointelegraph.com News: “Coinbase’s national trust bank charter took effect on Friday, according to the US Office of the Comptroller of the Currency (OCC).”
- SupportedThe charter allows Coinbase National Trust Company to hold clients’ digital assets as a fiduciary.Cointelegraph.com News: “The charter allows Coinbase National Trust Company to hold digital assets on behalf of clients as a fiduciary, according to the OCC’s preliminary approval letter .”
- SupportedCoinbase plans to expand its institutional crypto custody business.Cointelegraph.com News: “Coinbase plans to expand its institutional crypto custody business under the federal charter and is exploring digital asset payment products.”
- SupportedCoinbase received preliminary approval in April 2026, according to the OCC’s filing record.Cointelegraph.com News: “The applied for the charter in October 2025 and received preliminary approval in April 2026, according to the OCC’s filing record .”
- SupportedCoinbase applied for the charter in October 2025.Cointelegraph.com News: “The applied for the charter in October 2025 and received preliminary approval in April 2026, according to the OCC’s filing record .”
- SupportedCoinbase plans to offer institutional clients segregated custody accounts, with access to staking, financing and trading through other Coinbase entities.Cointelegraph.com News: “Coinbase plans to offer institutional clients segregated custody accounts, with access to staking, financing and trading through other Coinbase entities, according to its charter application .”
- SupportedCoinbase’s application outlined plans to explore digital asset payment products.Cointelegraph.com News: “Coinbase’s application also outlined plans to explore digital asset payment products and custody services that would allow clients to interact with select smart contracts.”
- SupportedCoinbase’s application outlined custody services that would let clients interact with select smart contracts.Cointelegraph.com News: “Coinbase’s application also outlined plans to explore digital asset payment products and custody services that would allow clients to interact with select smart contracts.”
- SupportedRipple, Circle, BitGo, Fidelity Digital Assets and Paxos have received OCC national trust bank charters.Cointelegraph.com News: “Other crypto companies that received OCC national trust bank charters include Ripple , Circle , BitGo , Fidelity Digital Assets and Paxos.”
- SupportedCrypto.com and Stripe-owned Bridge received conditional approval, while Kraken and EDX Markets are still pursuing charters.Cointelegraph.com News: “Crypto.com and Stripe-owned Bridge received conditional approval, while Kraken and EDX Markets are still pursuing charters.”