- Coinbase National Trust Company received final OCC approval, with its national trust bank charter becoming effective on November 6, 2026.
- The charter allows federally supervised crypto custody and trust services, but not retail deposits or traditional banking.
Coinbase has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a federally chartered national trust bank, allowing the cryptocurrency exchange to expand its federally regulated digital asset custody business.
The OCC’s official application records show that Coinbase National Trust Company moved from conditional approval to consummated and effective status on November 6, 2026. The exchange initially received conditional approval on April 2, 2026, after submitting its charter application in October 2025.
The approval gives Coinbase a federal regulatory framework for providing institutional custody and related trust services. Custody involves holding and safeguarding digital assets on behalf of customers, particularly financial institutions and other large investors.
Coinbase Vice Chairman Ryan VanGrack said the approval places more of the company’s business under federal oversight. He described the development as another step toward integrating digital assets into the traditional financial system.
Coinbase Will Not Operate as a Traditional Commercial Bank
The new charter does not allow Coinbase to operate like a conventional retail bank. The company has previously stated that it does not intend to accept retail deposits or engage in fractional-reserve banking, where banks lend out a portion of customer deposits.
Coinbase National Trust Company is also structured as a non-insured national trust company, meaning its customers will not receive FDIC deposit insurance through the entity.
The company plans to move its existing custody operations to the new national trust bank over a three-year period, according to its charter application. Coinbase will also retain its existing state-level regulatory arrangements, including oversight from the New York Department of Financial Services.
The approval comes as more cryptocurrency companies seek federal banking charters to bring custody and other digital asset services under national supervision. Ripple secured final OCC approval for its own national trust bank in October 2026, while firms including BitGo, Paxos and Circle have also pursued federal trust bank status.
Coinbase’s latest approval strengthens its position in the institutional crypto custody market while bringing its trust operations under direct federal banking oversight.
