Coinbase Secures OCC Approval for National Trust Charter

Brief

By Dextape Desk · November 9, 2026

Coinbase has received unconditional approval from the Office of the Comptroller of the Currency to operate as a national trust bank, the company said Monday. The move shifts the largest US crypto exchange and custodian from state licenses to a federal framework. Rick Schonberg, who heads prime trading and custody, credited years of push for clearer rules and said the approval lets the firm grow custody within a consistent federal structure. The charter brings federal preemption of some state financial laws, and its near-term focus is custody, with stablecoin issuance later. Traditional banking groups have sued the OCC, arguing these charters let crypto firms operate like banks without full banking rules or FDIC deposit insurance. Courts could take years to decide, with outcomes possibly tightening limits on existing charters.

Why it matters: It shows federal regulators granting crypto firms national trust charters, shaping how digital asset custody sits within the banking system.

Mentioned: Coinbase

Summary by Dextape, based on reporting by Bitcoinist. Machine-written from Bitcoinist’s report and checked against it · How Dextape writes