Coinbase is the latest digital asset firm to receive conditional approval from US regulators for a national trust bank charter

Coinbase announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Coinbase National Trust Company.

„This is the result of years of investment in compliance, engagement with regulators, and belief that the right path forward for crypto is through the system — not around it.” – says Greg Tusar, co-CEO Coinbase Institutional.

What this means, and what it doesn’t?

Greg Tusa explains:

„Coinbase is not becoming a commercial bank. We will not be taking retail deposits. We will not be engaging in fractional reserve banking.

This charter is about bringing federal regulatory uniformity to the custody and market infrastructure business we have been building for years. The OCC charter was designed precisely for this purpose — to provide clear oversight over assets in safekeeping — and that is exactly how we intend to use it.

Conditional approval means that Coinbase is positioned to build the next chapter of finance with the regulatory confidence that our partners, customers, and the broader market need. It means that our model of engaging with regulators, earning their trust, and operating to the highest standards has been validated. And it means that the federal regulatory framework that differentiates American markets from any other in the world is evolving to meet the moment that crypto has been building toward.

We have always sought uniform rules for digital assets. While Congress has made real progress on market structure, crypto is already woven into the fabric of the financial system. Federal oversight through the OCC will bring consistency and uniformity to our custody business and create a foundation for new products — including payments and related services — that serve the institutions and individuals who rely on us.”