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Coinbase Seeks Federal Trust Charter to Bolster Regulatory Standing
- Coinbase has applied for an OCC national trust charter to expand services under federal oversight while maintaining NYDFS regulation.
- The exchange stressed it does not plan to become a bank, positioning the move as a way to ensure regulatory clarity and responsible innovation.
- Coinbase joins rivals like Paxos, Ripple, and Circle in seeking approval, while already managing crypto services for U.S. authorities and major asset managers.
Digital currency exchange Coinbase has applied for a national trust charter from the US Office of the Comptroller of the Currency (OCC), aiming to establish a stronger regulatory foundation for its operations and new products.
The exchange stressed that it has no ambition to convert into a bank. Instead, the application is designed to strengthen regulatory clarity, ensuring that future innovations take place under a well-defined framework while continuing to safeguard clients and institutional partners.
If the application succeeds, Coinbase will be able to broaden its services beyond custody to include payment solutions and other offerings, all within the confidence of direct federal supervision. At the same time, Coinbase Custody Trust Company and Coinbase Inc. remain under the watch of the New York Department of Financial Services, whose BitLicense programme has governed its activities for a decade.
Vice President of Institutional Product Greg Tusar highlighted that the charter would help unify oversight for new launches while allowing the exchange to continue advancing the integration of digital assets into conventional finance.
We’re aligning with our long history of securing licenses that hold Coinbase to the highest standards and position us to bridge the gap between the crypto economy and traditional financial system.
Greg Tusar, Vice President of Institutional Product, Coinbase Related: Coinbase CEO Sees Strong Bipartisan Momentum for US Crypto Market Bill
Bridging the Gap Between Crypto and Wall Street
Coinbase’s filing mirrors moves by other leading players in the digital assets market, including Paxos, Circle, Ripple, and BitGo, all of which have applied for OCC approval. Anchorage Digital became the first digital asset firm to secure the charter in 2021, with stablecoin issuers later joining the trend.
The company already plays an established role in bridging crypto and traditional finance. It signed an agreement with JPMorgan Chase in July to improve customer access to crypto purchases, manage digital assets seized by US authorities, and safeguard Bitcoin for ETFs backed by BlackRock and Fidelity.
Related: US Treasury Exempts Crypto From Unrealised Gains Tax in Major Industry Win
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
