Coinbase Gains Full US Trust Charter Amid Expanded Crypto Banking Access
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Coinbase, the largest U.S.-based cryptocurrency exchange, has received final approval for a national trust bank charter from the U.S.
MissedBlock Desk · 3 min read
Coinbase Secures Federal Trust Bank Charter, Bolstering Custody Operations
Coinbase, the largest U.S.-based cryptocurrency exchange, has received final approval for a national trust bank charter from the U.S. Office of the Comptroller of the Currency (OCC). This development establishes a direct federal banking framework for the company’s custody business.
The approval, which became effective on November 6, elevates Coinbase from a conditional status to a fully chartered national trust company. The OCC’s records indicate the application was initially received on October 3, 2025, with conditional approval granted on April 2, 2026.
With this federal charter, Coinbase National Trust Company is now authorized to offer regulated custody, fiduciary, and related payment services under federal oversight.
Ryan VanGrack, Coinbase Vice Chairman, stated that the approval leverages the company’s more than 14 years of experience in safeguarding digital assets and enhances the regulatory framework surrounding its custody operations. “We’ve spent years asking for clear rules and rigorous oversight,” VanGrack commented.
This latest regulatory milestone follows a history of approvals for Coinbase in New York. The company obtained its BitLicense from the New York Department of Financial Services in 2017 and a limited-purpose trust charter for Coinbase Custody Trust Company in 2018.
The OCC’s National Trust Bank Charter is expected to provide Coinbase with several strategic advantages. It could lead to reduced operational costs and increased revenue by allowing the company to manage more of its crypto custody services internally, rather than relying on external banking partners. This shift could enable Coinbase to retain a larger portion of its earned fees.
Furthermore, the charter may facilitate the offering of new services involving stablecoins and other digital assets, opening up additional revenue streams. It could also streamline compliance by reducing the need to navigate separate state-level regulations, thereby simplifying and lowering associated costs.
A significant benefit of the charter is its potential to enhance institutional trust. Large investors such as pension funds and asset managers often require regulated entities to hold their assets. The OCC charter is anticipated to make Coinbase a more attractive custodian for these clients.
Coinbase’s move aligns with a broader trend of cryptocurrency companies seeking direct access to the U.S. banking system. As of December 2025, the OCC reported supervising approximately 60 national trust banks, within a U.S. federal banking system that holds over $17 trillion in assets and manages more than $85 trillion.
Several other crypto firms, including Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos, are also pursuing national trust bank status.