Coinbase Says OCC Granted Final Approval for Trust Charter

Coinbase said the Office of the Comptroller of the Currency (OCC) has granted final approval for its national trust charter, a move the company says will put its custody and market infrastructure business under federal oversight.

The OCC issued conditional approval on April 2 to establish Coinbase National Trust Company. Its latest action shifts that approval to final status for the named trust entity.

Coinbase has described the charter as a way to bring custody and market infrastructure within one federal supervisory framework. The company also says the structure will support products such as payments. It has said the trust company will not accept retail deposits or engage in fractional-reserve banking.

Coinbase, Inc. will remain under the New York State Department of Financial Services (NYDFS), while its BitLicense and state trust charter remain unchanged. The federal charter adds a national authorization for the trust company alongside Coinbase's continuing state-level oversight. Coinbase is framing the charter as a federal platform for custody, infrastructure and payments, without retail deposit banking.