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US crypto exchange Coinbase has received full approval from the Office of the Comptroller of the Currency (OCC) for its national trust bank, Coinbase National Trust Company, moving the entity from conditional to full charter status. The company announced the approval on 9 November 2026. According to the OCC licensing record cited in press reports, the filing was marked consummated and effective on 6 November.
From Conditional To Full Approval
Coinbase applied for the charter in October 2025 and received conditional approval from the OCC on 2 April 2026. The full charter follows several months of work on compliance systems, hiring and regulatory review. The announcement comes shortly after Coinbase reported a 66% rise in third-quarter net income.
“We’ve spent years asking for clear rules and rigorous oversight, and today’s approval of our national trust charter puts more of our business behind that commitment. The OCC’s approval is another major step in integrating digital assets into the core infrastructure of the American financial system.” - Ryan VanGrack, Vice Chairman, Coinbase
What The Charter Allows
The charter allows Coinbase National Trust to provide federally regulated digital asset custody, mainly for institutional clients, together with payments and transaction services linked to those custody holdings. It does not make the entity a full-service bank: it cannot take retail deposits or extend loans, and the charter does not give automatic access to Federal Reserve payment services.
According to reports on the approval, Coinbase plans to move the custody business of Coinbase Custody Trust Company, which is regulated by the New York State Department of Financial Services, to the new national trust over three years. Reported conditions include holding at least $60 million of Tier 1 capital.
A Growing List Of Crypto Trust Banks
Coinbase joins Ripple, whose Ripple National Trust Bank received final OCC approval in late October, days before Ripple and Coinbase brought RLUSD to Coinbase’s institutional and retail clients. Other crypto firms have taken a similar route to regulated custody, with Crypto.com expanding its institutional custody services through a US trust company.
The approvals have drawn opposition from parts of the banking industry. The Independent Community Bankers of America (ICBA) sued the OCC in October, challenging its approach to chartering crypto firms.
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