Coinbase said the Office of the Comptroller of the Currency gave its national trust company final approval, effective November 6, 2026, to provide federally supervised digital-asset custody. The charter does not make it a commercial bank: the trust company cannot take ordinary consumer deposits or offer traditional lending, trading, staking or financing, and assets it holds lack federal deposit insurance. Coinbase expects to move its institutional custody business to the trust company over three years.
PNC Bank is testing USDC payments with eligible corporate and institutional clients through a limited pilot with Coinbase. Incoming USDC is converted into U.S. dollars; any speed or access benefits depend on processing, compliance and conversion arrangements. Coinbase shares traded at $136.76 on November 9, down almost 40% since the start of 2026, according to the source.
