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Coinbase wins initial bank regulator nod for trust charter, boosting custody push
Coinbase’s conditional OCC approval moves it closer to operating as a federally regulated crypto custodian, pending compliance and final review.
Apr 2, 2026, 4:18 p.m.
What to know:
- Coinbase has received conditional approval from the Office of the Comptroller of the Currency for a national trust company charter, a key step toward becoming a federally regulated crypto custodian.
- The preliminary green light requires Coinbase to build out compliance systems, hire key staff, pass regulatory reviews and demonstrate strong risk management and anti-money-laundering controls before it can secure a full charter.
- A finalized charter would let Coinbase operate a non-insured national trust company focused on digital asset custody, supporting its push to generate steadier revenue from institutional clients beyond trading fees.
If finalized, the charter would allow Coinbase to run a non-insured national trust company. That structure permits the firm to hold digital assets on behalf of clients but bars it from taking deposits or making loans.
Coinbase first applied for the charter in October, alongside firms such as Ripple. More recently, Citadel-backed exchange EDX Markets said it had filed for a similar structure. The cluster of applications points to growing demand for regulated custody as large investors enter crypto markets.
