Coinbase said the Office of the Comptroller of the Currency has granted its national trust a full charter, moving the company beyond the provisional approval it received in April. The exchange can now run a federally chartered trust bank that offers custodial and payments services. It still cannot act as a full-service bank that takes deposits and makes loans.
What the charter allows
Coinbase National Trust spent months building compliance systems and hiring staff before the OCC signed off, according to the company. The approval gives Coinbase a federal footing for parts of its custody business. That matters for institutional clients that want a regulated U.S. trust structure, though it does not turn Coinbase into a traditional bank. The company framed the step as part of a longer push for clear rules. Ryan VanGrack, Coinbase vice chairman, said the approval “puts more of our business behind that commitment.” He also called it a step in integrating digital assets into core U.S. financial infrastructure.
Why crypto firms want trust charters
Several crypto companies have sought trust-bank status at the federal level. Interest grew after the GENIUS Act created a path for federal trusts to issue compliant stablecoins. The OCC has been more open to crypto firms under President Donald Trump. It granted conditional trust status to World Liberty Financial, the Trump family’s crypto business. Last month, Ripple received a full trust charter. Coinbase’s approval fits that pattern. For crypto firms, a trust charter can offer a federal seal for custody and payment work without the full weight of a bank charter.
A legal fight is still open
Not everyone supports the OCC’s approach. The Independent Community Bankers of America has sued the agency, arguing that it overstepped its authority by granting trust charters to crypto firms. The case could shape how far federal banking regulators can go in letting crypto-native companies into the banking system. For now, Coinbase has its full charter. The next question is how much business it can move into the trust bank, and whether courts or Congress change the rules again.
