Coinbase Secures Final OCC Approval for U.S. National Trust Bank Charter

TLDR:

• Coinbase’s OCC national trust charter became effective on November 6, after conditional approval in April.
• Coinbase will shift its existing New York-regulated custody business to the trust bank over three years.
• The OCC requires $60 million in Tier 1 capital and liquid assets covering 180 days of operating expenses.
• The charter permits institutional crypto custody but excludes retail deposits and conventional lending.

Coinbase has secured final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Coinbase National Trust Company, bringing its institutional crypto custody business under federal banking supervision.

The OCC’s official records show the charter became effective on November 6, 2026, following conditional approval on April 2. The exchange confirmed the development on Monday, November 9, completing a regulatory process that began in October 2025.

The approval allows Coinbase to expand federally supervised digital asset custody and related transaction services. However, the charter does not authorize the company to accept ordinary retail deposits or operate as a traditional commercial lender.

Coinbase National Trust Charter Receives Final OCC Approval

The OCC’s Corporate Applications Search identifies the institution under control number 2025-Charter-343449, with proposed charter number 25390. Its headquarters are listed at One Madison Avenue in New York.

Coinbase received preliminary authorization in April, subject to organizational, operational and regulatory requirements. The final approval followed several months of compliance preparations and regulatory review.

The company has operated a custody business under New York State Department of Financial Services oversight. Its new federal charter establishes a separate supervisory framework for institutional custody operations.

OCC Sets Capital and Custody Requirements

According to the OCC’s approval documents, Coinbase will transfer its existing custody operations to the new trust company over a three-year period. The institution may safeguard digital assets, facilitate transfers and provide custody-related transaction services.

Customers may also access affiliated staking, prime trading and financing products, although the trust company will not directly provide those services. The regulator requires at least $60 million in Tier 1 capital. The greater of $30 million or 50% of that capital must remain in eligible liquid assets.

Separate liquid reserves must also cover 180 days of operating expenses. These requirements apply throughout the institution’s first three years of operation, alongside ongoing supervisory and compliance obligations.

Stablecoin Issuance Remains Outside Approved Activities

Although Coinbase has identified payments as a potential area for expansion, the OCC’s approval documents explicitly state that the proposed trust company does not plan to issue stablecoins.

Any significant change to its approved business plan requires advance notification and written regulatory clearance. The charter also does not provide federal deposit insurance or authorize conventional commercial lending.

Coinbase’s approval follows similar federal charter developments involving digital asset firms, including Ripple, which received final OCC authorization for its national trust bank in October 2026.

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