Overview
- The Office of the Comptroller of the Currency completed Coinbase National Trust Company’s chartering process effective November 6, 2026 and Coinbase confirmed final approval in a November 9 announcement.
- The charter places Coinbase’s institutional digital-asset custody business under OCC supervision and authorizes fiduciary custody and transfer services for institutional clients.
- The OCC imposed prudential conditions that require at least $60 million in Tier 1 capital and liquid assets sufficient to cover 180 days of operating expenses during the trust’s first three years.
- The national trust bank is not a commercial bank and the charter explicitly excludes taking ordinary retail deposits, making traditional loans, and does not authorize the trust itself to issue stablecoins.
- Coinbase will migrate its New York‑regulated custody operations into the federal trust on a phased three-year timetable as part of a broader industry shift driven by the GENIUS Act and competing crypto firms winning similar charters while banking groups and some lawmakers pursue legal challenges.