Coinbase Shares Slip as OCC Grants Final Trust Bank Approval

Coinbase shares fell 1.51% to $134.76 even as the Office of the Comptroller of the Currency (OCC) approved a federal trust charter for Coinbase National Trust Company, expanding federal oversight of its custody business.

The charter lets the subsidiary provide cryptocurrency custody and payment-related services under federal supervision. Custody means safeguarding clients’ digital assets. The company cannot take customer deposits or make commercial loans, so the authorization does not make it a conventional commercial bank.

The charter advances an application that received conditional approval in April 2026. Coinbase completed the OCC’s remaining requirements before the regulator granted full authorization.

The decision comes amid opposition from community banks. The Independent Community Bankers of America has sued the OCC, challenging its authority to issue national trust charters to digital-asset companies.

Coinbase reported $719 million in third-quarter 2026 net income, up from $433 million a year earlier. Its shares fell about 10% after the earnings report.