Coinbase secures full U.S. trust charter for crypto banking operations

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Coinbase secures full U.S. trust charter

Highlights

Coinbase National Trust secured full national trust bank charter from the U.S. OCC, expanding its regulated custodial and payments services beyond provisional status granted in April.
Rising momentum for crypto trust charters follows the GENIUS Act, which enables federal trust banks to issue compliant stablecoins and drives more crypto firms to seek federal approval.
The OCC recently granted similar full trust bank status to Ripple and World Liberty Financial, reflecting a shift toward crypto inclusion despite legal challenges from the Independent Community Bankers of America.

Charter approval expands regulated services

As reported by CoinDesk, citing Coinbase, the U.S. Office of the Comptroller of the Currency has elevated Coinbase National Trust from conditional approval to a full national trust bank charter. The company says the change follows several months of building compliance systems, hiring required personnel and undergoing regulatory review.

Coinbase National Trust received provisional approval in April, which allowed it to offer federally regulated custodial and payments services. The charter does not make it a full-service bank that can take deposits or extend loans.

In a statement, Coinbase Vice Chairman Ryan VanGrack says the approval puts more of the company's business behind its call for clear rules and rigorous oversight. He adds that the OCC's decision marks another step in integrating digital assets into the core infrastructure of the American financial system.

Crypto trust charters gain momentum

Coinbase is the latest crypto-native firm to obtain full national trust bank status at the federal level, as more companies pursue the structure. The trend accelerates after the Guiding and Establishing National Innovation for U.S. Stablecoins, or GENIUS, Act clears a path for federal trusts to issue compliant stablecoins.

The OCC has taken a more open stance toward crypto firms and stablecoins under President Donald Trump, including granting conditional trust status to World Liberty Financial, a venture tied to Trump's family. Last month, the regulator also granted Ripple a full trust charter.

The entry of crypto-native firms into the U.S. banking system follows years in which federal banking, securities and derivatives regulators resisted such businesses and often treated them with distrust. At the same time, the Independent Community Bankers of America has sued the OCC, arguing that the agency oversteps its authority by granting trust charters to crypto firms.

Our earlier report on the Bank of England’s push for “bare metal” recovery planning explained why regulators want banks to be able to keep critical services running even if core systems are compromised. It highlighted how AI is amplifying the scale and complexity of cyber threats, prompting supervisors to demand stronger end-to-end resilience and independent fallback capabilities across the financial system.

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