The Office of the Comptroller of the Currency (OCC) has granted Coinbase a full national trust bank charter, completing a regulatory process that places the cryptocurrency exchange’s institutional custody business under direct federal supervision.
OCC licensing records show the chartering process was completed on November 6. The regulator approved the application for Coinbase National Trust Company on Friday, following preliminary approval granted on April 2. Coinbase initially applied for the charter in October 2025.
Capital and Operational Limits
The newly chartered entity must hold at least $60 million in Tier 1 capital. It is also required to maintain enough liquid assets to cover 180 days of operating expenses during its first three years.
The charter restricts the trust’s activities to fiduciary and custody services. It does not authorize the bank to issue stablecoins, accept ordinary retail deposits or make loans. Staking, prime trading and financing operations will continue through separate Coinbase affiliates rather than within the trust itself.
Coinbase stated it plans to migrate its existing New York-regulated custody business to the national entity over a three-year period. Ryan VanGrack, vice chairman at Coinbase, said the company has spent years asking for clear rules and rigorous oversight.
Regulatory Context
The approval follows similar recent decisions for other digital asset firms. Ripple received final approval for a federal trust charter on October 26, while Circle won final OCC approval in July. In August, Comptroller Jonathan V. Gould stated that the OCC is once again open for business regarding such charters.
Traditional banking groups have opposed these developments. The Independent Community Bankers of America urged the OCC to reject Coinbase’s application in December, and the American Bankers Association asked the regulator in February to slow its review of crypto charter requests.
