Crypto

Coinbase gets full federal trust charter for crypto custody

The charter follows April's conditional nod and excludes ordinary retail deposits and traditional lending at the trust bank; New York custody migrates over three years.

By Jennifer Walsh · Nov 9, 2026, 10:15 AM EST

Why it matters: Existing institutional custody moves from Coinbase's NY-regulated entity to the national trust over three years under OCC supervision, without Coinbase becoming a deposit-taking bank.

For information only, not investment advice. Prices delayed.

Tickers: COIN

Coinbase ($COIN) said Monday the Office of the Comptroller of the Currency approved its application to charter Coinbase National Trust Company, putting institutional crypto custody under a federal trust bank charter.¹⁵ OCC licensing records cited by crypto.news show the chartering process completed Nov. 6 after preliminary approval in April; Coinbase applied in October 2025.⁶

The license does not make Coinbase a conventional commercial bank or authorize ordinary retail deposits.⁶ CoinDesk reported the April provisional approval covered federally regulated custodial and payments services, not deposit-taking or lending.⁴ Coinbase plans to transfer its existing New York Department of Financial Services–regulated custody business to the national trust over three years.⁶

Coinbase has offered regulated custody since 2018 under a New York limited purpose trust charter; the company said the OCC step brings those trust activities into a consistent federal framework.¹⁵ CEO Brian Armstrong wrote on X that "Trusted custody is essential for bringing more of the financial system onchain."³ Coinbase shares were at $134.76, down 1.51% as of Nov 6, 4:00 PM ET.

The Independent Community Bankers of America has sued the OCC, claiming an overreach of authority in granting trust charters to crypto firms.⁴

Tags: regulation · exchanges · banks · fintech