🇺🇸 Coinbase Moves Closer to National Trust Charter to Expand Crypto Services in the U.S.
America’s largest cryptocurrency exchange, Coinbase, has officially applied for a national trust charter with the U.S. Office of the Comptroller of the Currency (OCC). This major step aims to give the exchange more flexibility in offering new products and services, boosting institutional trust in digital assets.
Coinbase Follows Circle, Paxos, and Ripple
Coinbase’s application follows a growing trend among leading crypto and fintech firms. Stablecoin issuers such as Circle and Paxos, as well as fintech giant Ripple, have also applied for the same OCC charter. If approved, the license will allow Coinbase to operate as a national trust company—without becoming a bank.
This means Coinbase would have the legal authority to manage its own reserves, custody assets for institutions, and accelerate the rollout of innovative financial services that bridge digital assets with traditional finance.
“We Have No Intention of Becoming a Bank” — Coinbase
In its announcement, Coinbase clarified that it does not intend to become a bank. Instead, the company emphasized its commitment to regulatory clarity, customer trust, and financial innovation.
“It is our firm belief that clear rules and the trust of our regulators and customers enable Coinbase to confidently innovate while ensuring proper oversight and security,” the company stated.
If approved, the charter will also open doors for Coinbase to launch new services beyond custody — including crypto payments, settlement services, and other institutional solutions, all under the umbrella of regulatory confidence.
Anchorage Was the First — Coinbase Could Be Next
Anchorage Digital became the first digital asset platform to receive an OCC charter back in 2021. In 2025, Circle (issuer of USDC), Paxos (issuer of PYUSD and PAXG), and Ripple (issuer of RLUSD) have joined the race for national trust charters. Now, Coinbase is taking its place among these leaders.
Deepening Ties With Traditional Finance
Based in San Francisco, Coinbase has been making strategic moves to integrate crypto into mainstream finance. In July, the company signed a deal with JPMorgan Chase to help customers buy crypto more quickly and securely.
Coinbase also has a contract with the U.S. Marshals Service to manage and dispose of seized digital assets. Additionally, it serves as the custodian for Bitcoin held by top asset managers like BlackRock and Fidelity through their ETF products.
Why This Matters for the Crypto Industry
- ✔ Greater regulatory clarity for digital asset companies
- ✔ Enhanced institutional trust and adoption
- ✔ Potential for faster innovation in crypto payments and custody services
- ✔ Strengthening the bridge between crypto and traditional finance
With Coinbase joining the list of applicants, the U.S. crypto industry may be on the verge of a significant regulatory milestone. A national trust charter would allow the exchange to scale its services nationwide with stronger legal backing and operational clarity.
Editor’s Note: This article has been updated with additional details on Coinbase’s OCC charter application.