Coinbase announced that the conditional trust bank approval granted by the Office of the Comptroller of the Currency (OCC) has been upgraded to a full charter.
Coinbase, the largest cryptocurrency exchange in the United States, announced that it had received full approval for Coinbase National Trust. According to the company, the Office of the Comptroller of the Currency (OCC) upgraded its previously conditional status to a full charter.
With the preliminary approval it received in April, Coinbase National Trust was able to offer federally regulated custody and payment services. This status did not cover full-service banking, including accepting deposits and making loans. Coinbase said it had established compliance systems, hired the necessary staff, and undergone regulatory review before receiving full approval.
Coinbase’s conditional status upgraded to full approval
Coinbase Vice President Ryan VanGrack said the company had spent years calling for clearer rules and strict oversight. VanGrack said full charter approval was a step toward integrating digital assets into the core infrastructure of the U.S. financial system.
Applications from crypto companies for federal trust bank status accelerated after the GENIUS Act paved the way for federally chartered trusts to issue compliant stablecoins. Last month, the OCC also granted Ripple a full trust charter; under President Donald Trump’s administration, it granted conditional trust status to the Trump family’s World Liberty Financial.
The Independent Community Bankers of America (ICBA) sued the OCC. The association argues that the agency exceeded its authority by granting trust charters to crypto companies.
Not investment advice.