OCC gives Coinbase final approval to open national trust bank
Coinbase Global received final approval from the Office of the Comptroller of the Currency to operate a national trust bank.
Coinbase’s application said the charter will support growth in its custody operations and a broader push into payments. The license could also allow Coinbase to launch stablecoins under its own name and to support other crypto companies in creating and running stablecoins.
Trust banks are prohibited from accepting ordinary deposits or issuing loans. They provide fiduciary and custody services.
Coinbase had earlier operated under state-level oversight.