Coinbase said on November 9, 2026, that the Office of the Comptroller of the Currency had given final approval to charter Coinbase National Trust Company. Coinbase said the charter will put its institutional digital-asset custody business under a federal regulatory framework, building on its existing New York trust charter. The company has said it is not becoming a commercial bank and will not take retail deposits or engage in fractional reserve banking.
The approval followed conditional approval in April. Banking groups have challenged crypto trust charters in court, and Sen. Elizabeth Warren has argued that the OCC’s approvals, including Coinbase’s, are illegal.
