Overview

• Coinbase submitted an application to the U.S. Office of the Comptroller of the Currency for a National Trust Company Charter centered on Coinbase Custody.
• Approval would let the company offer payments and settlement without state-by-state authorization under its current patchwork of licenses, including the NYDFS BitLicense.
• Coinbase stated it has no intention of becoming a bank and positioned the move as a bridge between crypto and traditional finance.
• The company said it will work with OCC staff through the review process and address feedback through public comment.
• Circle, Ripple, BitGo, and Paxos have pursued similar federal charters, while Anchorage Digital remains the only crypto firm with an OCC national trust charter, a status it said required significant compliance investment.