Coinbase Secures Full OCC National Trust Bank Charter

Coinbase has secured a full national trust bank charter from the Office of the Comptroller of the Currency (OCC), allowing the United States cryptocurrency exchange to operate its institutional custody business under direct federal banking supervision. According to licensing records, Coinbase National Trust Company completed its chartering process on November 6, 2026, following preliminary approval granted in April.

The newly approved federal license excludes ordinary retail deposits, traditional lending, and direct stablecoin issuance activities. Under the charter, the institution can provide fiduciary digital asset custody services primarily to institutional customers, holding and transferring assets in custody accounts while offering related transaction services. Coinbase plans to gradually transfer its existing New York-regulated custody business over a three-year period.

Regulatory Requirements and Conditions

The OCC’s final approval follows months of regulatory review that began with Coinbase’s application in October 2025. As part of the supervisory conditions, the trust bank must maintain at least $60 million in Tier 1 capital, with a minimum portion held in eligible liquid assets sufficient to cover 180 days of operating expenses during its first three years.

While the trust bank can facilitate customer access to staking, prime trading, and financing services, Coinbase affiliates will provide those products rather than the bank directly performing the underlying services. The federal license does not automatically grant direct access to Federal Reserve payment systems, which requires a separate evaluation process.

Industry Context and Opposition

Coinbase joins other cryptocurrency firms securing federal trust bank charters, including Ripple, which received final approval on October 26, 2026. The OCC is also reviewing applications from Circle, BitGo, Fidelity Digital Assets, and Paxos.

Meanwhile, community banking groups continue challenging the regulatory approach. The Independent Community Bankers of America filed a lawsuit in the US District Court for the District of Columbia in October, challenging the OCC’s authority to grant trust charters covering substantial non-fiduciary activities.

Key facts

• Coinbase secured a full OCC national trust bank charter completed on November 6, 2026.
• The charter brings institutional custody under federal oversight but excludes retail deposits and lending.
• The trust bank is required to maintain at least $60 million in Tier 1 capital.
• Coinbase plans to transfer its New York-regulated custody business to the federal entity over three years.