Coinbase wins full OCC national trust charter, but no deposits, lending or stablecoin issuance
The biggest U.S. exchange moves its institutional crypto custody under federal bank supervision, seven months after conditional approval and weeks after Ripple.
TL;DR
- Coinbase said on Nov. 9, 2026 that the OCC elevated Coinbase National Trust Company from conditional approval to a full national trust charter, CoinDesk reported.
- OCC licensing records show the chartering process was completed on Nov. 6, 2026, after preliminary approval on April 2, 2026, according to crypto.news.
- The charter covers fiduciary digital-asset custody, mainly for institutions; it does not allow retail deposits, traditional lending or stablecoin issuance.
- The trust bank must hold at least $60 million in Tier 1 capital and liquid assets covering 180 days of operating expenses in its first three years (crypto.news).
Coinbase is now a federally chartered trust bank. The Office of the Comptroller of the Currency (OCC) elevated Coinbase National Trust Company from conditional to full charter status, the company announced on Nov. 9, 2026, CoinDesk reported. According to OCC licensing records cited by crypto.news, the chartering process was completed on Nov. 6, 2026.
Coinbase Vice Chairman Ryan VanGrack said the company has "spent years asking for clear rules and rigorous oversight," calling the OCC's approval "another major step in integrating digital assets into the core infrastructure of the American financial system," per CoinDesk.
What the charter allows – and what it doesn't
The trust bank can provide fiduciary digital-asset custody, primarily for institutional customers, and hold and transfer custodied fiat and digital assets, crypto.news reported. It can give custody clients access to staking, Prime trading and Prime financing, but those products stay with Coinbase affiliates; the bank acts as a finder.
- No retail deposits or traditional lending
- No stablecoin issuance under the approved business plan
- No automatic access to Federal Reserve payment systems – that requires a separate process
Coinbase's existing custody business sits in Coinbase Custody Trust Company, regulated by the New York State Department of Financial Services. It will migrate to the national trust bank over three years, according to the OCC's April 2, 2026 approval letter.
Capital rules and a growing club
The OCC conditions require at least $60 million in Tier 1 capital and liquid assets sufficient to cover 180 days of operating expenses during the first three years, crypto.news reported. Ripple received its full trust charter on Oct. 26, 2026, and the OCC has advanced trust applications involving Circle, BitGo, Fidelity Digital Assets and Paxos.
Not everyone agrees. The Independent Community Bankers of America sued the OCC on Oct. 2, 2026 in federal court in the District of Columbia, challenging its authority to grant trust charters covering substantial non-fiduciary activities. "Digital assets held at a crypto firm operating under a national trust charter do not carry those important safeguards," ICBA President and CEO Rebeca Romero Rainey said, per crypto.news.
What it means for Web3 teams – Analysis
The federal trust charter is becoming the new institutional entry ticket. For token issuers, funds and treasuries, the question shifts from "is the custodian regulated?" to "by whom, and with what capital buffer?" At the same time, the charter is narrow: no deposits, no lending, no stablecoin issuance, no direct Fed access. The community-bank lawsuit means this model could still be tested in court. Not investment advice.
FAQ
What did Coinbase receive from the OCC?
A full national trust bank charter for Coinbase National Trust Company, upgraded from the conditional approval granted on April 2, 2026; Coinbase announced it on Nov. 9, 2026.
Can Coinbase National Trust take deposits or make loans?
No. The charter covers fiduciary digital-asset custody and related services; it does not authorize retail deposits, traditional lending or stablecoin issuance, according to crypto.news.
What capital must the trust bank hold?
At least $60 million in Tier 1 capital plus liquid assets covering 180 days of operating expenses during its first three years, crypto.news reported.
Which other crypto firm has a full OCC trust charter?
Ripple received final approval on Oct. 26, 2026, according to crypto.news.
Sources
News summary based on the sources above. Not investment, legal or tax advice. Editorial policy & corrections · Report an error
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