Coinbase Seeks National Trust Charter to Expand Financial Services
- Coinbase has applied for a National Trust Company Charter with the US Office of the Comptroller of the Currency (OCC).
- The application focuses on expanding custody services and potentially payments under federal oversight.
- Currently regulated by state licenses, including New York’s BitLicense, Coinbase aims to streamline oversight and innovate financial integration.
- Other crypto companies like Circle, Ripple, BitGo, and Paxos are also pursuing federal charters amid regulatory changes.
- Anchorage Digital is the only crypto firm with an OCC national trust charter, achieved through significant compliance efforts.
Coinbase’s move to secure a National Trust Company Charter from the OCC highlights its strategy to enhance custody services and explore new financial products under federal regulation. This aligns with similar efforts by other crypto firms seeking deeper integration with traditional finance systems.
Source (3.2)https://cryptobriefing.com/crypto-banking-license-coinbase-ripple-circle/?rand=59535
