Coinbase has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust company charter, the company announced Thursday.
Coinbase Moves Closer to Federal Crypto Custody With OCC ApprovalOnly after the OCC confirms those conditions are met will Coinbase be authorized to begin operations under the charter.
Each company must independently clear the pre-opening conditions before it can operate. Receipt of conditional approval does not guarantee full authorization.
For Coinbase, the charter extends its institutional custody business beyond the state-chartered structure it has operated under in New York. The company has been building toward federal oversight as institutional demand for regulated digital asset custody has grown.
Bloomberg first reported the development on Thursday morning, citing a Coinbase statement that described the charter as a step toward uniformity in how its custody business is regulated at the federal level.
The OCC typically issues a formal news release or posts a corporate decision to its Corporate Applications Search system when conditional approvals are granted. Coinbase disclosed receipt of the approval directly before an OCC public posting was available.
FAQ 🧭 What did Coinbase receive from the OCC? Coinbase received conditional approval for a national trust company charter, which would allow it to operate as a federally supervised crypto custodian. What does conditional approval mean? It is a preliminary authorization that requires Coinbase to meet specific pre-opening conditions before the OCC grants full operating status. Will Coinbase become a bank? No, the charter is limited to custody and trust functions and does not allow Coinbase to take deposits or make loans. When did Coinbase file its OCC application? Coinbase filed the application for Coinbase National Trust Company on Oct. 3, 2025.
