Overview
- The OCC’s licensing records show Coinbase National Trust Company became effective on November 6, 2026, and Coinbase publicly announced final approval on November 9, 2026.
- The charter permits fiduciary custody and transfer services for institutional clients but does not allow ordinary retail deposits, traditional lending or stablecoin issuance by the trust.
- The OCC required the trust to hold at least $60 million in Tier 1 capital and eligible liquid assets plus separate reserves large enough to cover 180 days of operating expenses during the first three years.
- Coinbase will migrate its existing New York‑regulated custody business into the federal trust on a phased three‑year schedule while retaining its New York trust charter and BitLicense during the transition.
- The approval heightens competitive pressure on other custodians, leaves Federal Reserve access and FDIC protection unresolved, and faces legal and congressional challenges that could shape the long‑term use of national trust charters for crypto firms.