TREE NEWS update: The U.S. Office of the Comptroller of the Currency has converted Coinbase’s trust charter from conditional approval to a full license, the company said. Coinbase received conditional approval to establish Coinbase National Trust Company on April 2, 2026. The charter brings its custody and market infrastructure operations under unified federal supervision and provides a base for new products such as payments; the company said it will not take retail deposits or engage in fractional-reserve banking. Coinbase, Inc. remains regulated by NYDFS under its BitLicense and state trust charter.
Coinbase’s Trust Charter Upgraded to Full Approval by US OCC
AI take
The shift from conditional to full OCC approval matters less as a new permission than as a consolidation of Coinbase's custody and market infrastructure under one federal supervisor, reducing reliance on a patchwork of state arrangements. It also signals that federal trust charters are becoming a viable path for crypto firms, even with explicit limits ruling out retail deposits and fractional-reserve banking. The open question is whether other exchanges and custodians pursue the same route, and how NYDFS's parallel oversight of Coinbase, Inc. coexists with the federal charter.
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