Coinbase Secures Full National Trust Charter from U.S. Banking Regulator

The Office of the Comptroller of the Currency has elevated Coinbase's status to a full national trust bank, allowing the exchange to expand its custodial services under federal oversight.

Bitcoin Magazine Coinbase Wins Full Federal Trust Charter From OCC Coinbase's custody arm has completed its national trust bank charter with the OCC, upgrading April's conditional approval, but the license does not let it take deposits, make loans or issue stablecoins. TLDR: Coinbase's OCC national trust charter became effective on November 6, after conditional approval in April. Coinbase will shift its existing New York-regulated custody business to the trust bank over three years.

Coinbase says a federal charter now covers its planned trust company, but its announcement gave no date for when customer custody moves over. The post Coinbase Wins Final OCC Approval to Charter a National Trust Company for Crypto Custody appeared first on Unchained.

Bitcoin Magazine reported the story as "Coinbase Wins Full Federal Trust Charter From OCC."

9 sources have covered this story, including Bitcoin Magazine, Blockonomi, Unchained and Decrypt and 5 other outlets. The earliest reporting in the cluster landed about 1 hour ago.

Source accounts have not fully aligned on every figure tied to this story (different reports cite 60 million, 2018); the published One News summary holds those specifics open until more sources converge.