Overview

• Coinbase filed for a National Trust Company Charter on Oct. 3–4, moving its custody-led business toward federal supervision pending OCC review and public comment.
• The company said it has no intention of becoming a bank, framing the bid as a way to bridge crypto services with traditional finance.
• Approval would enable nationwide rollout of payments and settlement services without state-by-state licensing; Coinbase’s core custody now operates via CCTC under New York’s BitLicense.
• Trust charters generally allow asset safeguarding, stablecoin reserve management, and payment/settlement services, but do not permit deposits, lending, or FDIC insurance.
• Coinbase joins Circle, Ripple, Paxos, and BitGo in pursuing the same charter, with Anchorage Digital remaining the only holder to date.