Coinbase (COIN) announced on November 9 that its Coinbase trust charter had taken effect the previous Friday, seven months after conditional approval from the U.S. Office of the Comptroller of the Currency. The charter covers Coinbase National Trust Company and supports institutional crypto custody under federal oversight, without retail deposit-taking or fractional reserve banking.

Coinbase Trust Charter Completes the Federal Approval Process

The charter took effect on Friday, per the OCC, following preliminary approval in April 2026. Before the green light arrived, Coinbase built out compliance systems, brought on required personnel and sat through months of regulatory scrutiny, as CoinDesk noted.

Coinbase Vice Chairman Ryan VanGrack said the company had spent years pushing for clear rules and rigorous oversight. He called the approval another major step toward embedding digital assets into the core infrastructure of the American financial system.

Related: Coinbase Posts $719M Q3 Profit, but $715M Came From Crypto Gains

Coinbase Plans Segregated Custody for Institutions

The OCC’s preliminary approval letter allows the trust company to hold clients’ digital assets as a fiduciary. Coinbase’s application proposes segregated custody accounts for institutional clients, with access to staking, financing and trading routed through other Coinbase entities.

The application also lays out plans to explore digital asset payment products and custody services that let clients interact with select smart contracts — ambitions that go well beyond warehousing assets, though they remain proposals rather than product launches.

“Trusted custody is essential for bringing more of the financial system onchain,” CEO Brian Armstrong wrote on Monday, framing the national trust company as one more step toward that goal.

Trusted custody is essential for bringing more of the financial system onchain.

Coinbase National Trust Company is another step for building that foundation. https://t.co/35K2yC3xpj

Federal Charter Builds on Coinbase’s 2018 New York Authorization

Coinbase has run regulated custody services since the New York Department of Financial Services handed Coinbase Custody Trust Company a limited purpose trust charter in 2018. The new national entity builds on that foundation and delivers “clear and consistent federal uniformity” to its custody operations, according to Decrypt. It does not turn the exchange into a deposit-taking lender.

Coinbase Joins Circle and Ripple With Federal Trust Approvals

Circle got final approval in July for a trust bank managing reserves behind USDC▌$0.9995. Ripple followed in October for a trust bank tied to its RLUSD▌$1.00 stablecoin. Coinbase now sits alongside both, each firm using a federal trust charter for a different slice of its business.

The approvals are not going unchallenged. The Independent Community Bankers of America has sued the OCC, arguing the agency overstepped its statutory authority by granting trust charters to crypto firms at all. Senator Elizabeth Warren has separately called the approvals — Coinbase’s included — illegal. For now, Coinbase is pressing ahead, with institutional custody expansion and the additional services outlined in its application as its next moves.

FAQ

When did Coinbase apply for its national trust charter?

Coinbase filed its application in October 2025, according to the OCC filing record cited by Cointelegraph. Preliminary approval followed in April 2026.

Which clients are the planned segregated custody accounts intended to serve?

The proposed accounts are intended for institutional clients. Coinbase outlined them in its national trust charter application as part of its custody expansion.

How would custody clients access staking, financing and trading?

Coinbase’s application places access to those services through other Coinbase entities. The national trust company would hold clients’ digital assets in its fiduciary capacity.

Which banking trade group is challenging the OCC’s crypto trust charters, and what is its argument?

The Independent Community Bankers of America brought the lawsuit, arguing the OCC exceeded its statutory authority by granting trust charters to crypto firms. Senator Elizabeth Warren has separately called the approvals illegal.

What distinguishes Coinbase’s trust charter from Circle’s and Ripple’s?

Circle’s trust bank manages reserves backing USDC and Ripple’s backs RLUSD, making them stablecoin reserve vehicles. Coinbase’s charter targets institutional custody of digital assets more broadly, with staking, financing and smart-contract access planned through affiliated entities.

This article is for information only and is not financial advice.

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