Coinbase Wins Federal Trust Charter From OCC

The Office of the Comptroller of the Currency granted Coinbase a full national trust charter, adding a federal layer to its existing state licenses.

Updated on Nov. 9, 2026 in Financial Services

Heavy steel vault door set into a pale stone wall in a quiet corridor under a single warm overhead light. — Coinbase received a full national trust charter from the Office of the Comptroller of the Currency on April 2, 2026, adding a federal layer to its state licenses. AI Illustration. Upload story photo >

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Coinbase received a full national trust charter from the Office of the Comptroller of the Currency for its new entity, the Coinbase National Trust Company. The de novo national trust bank will focus on fiduciary digital asset custody and does not cover retail deposits, lending, or fractional reserve banking.

Why it matters

The OCC is using national trust banks to bring stablecoin issuers and custodians inside the framework of the GENIUS Act, which was signed into law in July 2025. Firms seeking to issue or custody payment stablecoins will likely face pressure to obtain a federal license.

Coinbase held $245.7 billion in institutional custody assets as of mid-2025 and reported $376 billion in total platform assets at year-end 2025. The charter application includes a plan to move the custody business over a three-year period.

The players

Coinbase

Coinbase is a publicly traded cryptocurrency exchange and one of the largest crypto platforms in the United States.

Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department that charters and supervises national banks and federal trust banks.

The details

Coinbase filed its charter application on October 3, 2025, and received conditional approval on April 2, 2026. The company retains its New York state trust charter and its BitLicense, adding the federal charter on top of existing state licenses.

July 2025: GENIUS Act signed into law.
October 3, 2025: Coinbase filed its charter application.
April 2, 2026: Coinbase received conditional charter approval.

Market Landscape

The federal trust charter positions Coinbase within a growing field of crypto firms seeking national licenses, including Ripple, which received final OCC approval for its national trust bank on October 26, 2026. The move reflects a broader push to place digital asset custody under federal banking supervision.

A federal charter gives Coinbase a national supervisory framework for its custody business, which may affect how institutional clients and stablecoin issuers choose custodians. Customers should note the charter does not extend to retail deposits, lending, or fractional reserve banking.

The takeaway

Federal trust charters are becoming a central route for digital asset firms seeking legitimacy under the GENIUS Act. Readers tracking crypto custody should watch how Coinbase executes its three-year transition from state to federal oversight.