Coinbase Seeks National Trust Charter to Expand Services
- Coinbase has applied for a national trust charter from the Office of the Comptroller of Currency (OCC).
- The move follows similar applications by stablecoin issuers Circle and Paxos, as well as fintech Ripple.
- If approved, Coinbase aims to offer products and services faster and integrate digital assets into traditional finance.
- The license would allow Coinbase to oversee its own reserves and take custody of assets for institutions.
- Anchorage Digital was the first digital asset firm to receive an OCC charter in 2021.
Coinbase’s application for a national trust charter signifies its push into traditional finance, aiming to enhance service offerings and regulatory clarity. This follows a trend among other crypto firms seeking similar charters.
If granted, the charter will enable Coinbase to expand beyond custody services with confidence in regulatory compliance, potentially increasing institutional adoption of digital assets.(Source )
