Coinbase wins OCC nod to become a national trust bank, joining Ripple, Fidelity

Coinbase has secured conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust charter, advancing its efforts to operate under a federal regulatory framework, the company announced Thursday.

The milestone places Coinbase alongside other crypto companies conditionally approved for national trust charters, such as Ripple, Fidelity Digital Assets, Paxos Trust Company, BitGo Bank & Trust, and First National Digital Currency Bank. The firm said the charter will strengthen oversight of its custody operations and enable expanded institutional offerings.

The move is expected to enhance its appeal to institutional clients, with the company already serving as a major custodian for digital asset ETFs. While Coinbase holds a limited-purpose trust license in New York, a federal charter would allow it to access a wider client base.

Final approval remains contingent on meeting regulatory conditions, including organizational and compliance milestones.

This is a developing story. Please check back for further updates.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.