Coinbase Seeks Federal Trust Charter for Expanded Crypto Services
Coinbase has applied for a national trust charter with the U.S. Office of the Comptroller of the Currency (OCC).
The charter would place Coinbase under federal regulatory oversight, enhancing its custody business by offering services like payments and settlement.
Coinbase does not intend to become a full-service bank but aims to innovate confidently under clear rules and proper oversight, according to Greg Tusar, VP of institutional product.
The current regulated custody service is operated through Coinbase Custody Trust Company, licensed under New York's BitLicense regime since 2015.
A federal trust charter would allow Coinbase more flexibility in launching new financial services without needing individual state approvals.
This move aligns with other crypto firms, such as Circle, Ripple, and Paxos, pursuing federal supervision this year.
