Overview
- Coinbase, which announced the decision Thursday, received conditional OCC approval to form Coinbase National Trust Company for crypto custody and market infrastructure.
- The charter does not permit retail deposits or lending, focusing instead on safekeeping of digital assets and the systems that move them.
- Before it can open, Coinbase must hold its first board meeting, adopt bylaws, build payment rails, and pass a pre-opening exam by the OCC.
- Existing state permissions remain in force during the process, including a New York BitLicense and a limited-purpose trust charter used by Coinbase Prime.
- Coinbase says federal supervision can help large asset managers onboard, noting it managed $245.7 billion in institutional assets as of June 2025.