- Coinbase joins Circle, Paxos, and Ripple in pursuing federal approval for nationwide crypto trust operations.
- The OCC charter would allow Coinbase to expand custody, payments, and institutional financial services.
Coinbase, the largest cryptocurrency exchange in the United States, has applied for a National Trust Company Charter from the Office of the Comptroller of the Currency (OCC). The company made the announcement on Friday, following similar moves by Circle, Paxos, and Ripple.
If approved, the license would allow Coinbase to manage custody and trust services on a national scale. It would also let the company handle its own reserves and oversee institutional assets under direct federal supervision.
Coinbase said the decision to apply for the OCC charter is part of a plan to expand access to regulated financial services across the country. The charter would remove the need for multiple state-level approvals and help speed up product development.
In a statement, the exchange said,
Coinbase has no intention of becoming a bank. It is our firm belief that clear rules and the trust of our regulators and customers enable Coinbase to confidently innovate while ensuring proper oversight and security.
The company added that, if granted, the charter would let it build new services beyond custody, including payments and related financial products.
The OCC license would also classify Coinbase as a qualified custodian under U.S. law, a status often required for institutional clients such as funds and asset managers seeking regulated partners for digital asset custody.
More Crypto Firms Seek National Charters
The OCC has become the main route for crypto firms looking to operate under federal oversight. Anchorage Digital was the first to receive an OCC charter in 2021. In 2025, Circle, the issuer of USDC, and Paxos, which issues PYUSD and PAXG, filed their own applications. Ripple, the company behind the RLUSD stablecoin, has also applied.
Paxos stated earlier that the OCC’s approval would build on its New York license, giving it a nationwide framework for business. The company said,
The OCC is the preeminent global regulator of banks. National designation will unlock new opportunities for growth and efficiency.
Building Bridges With Traditional Finance
Coinbase continues to strengthen its position within regulated markets. In July, it partnered with JPMorgan Chase to streamline crypto purchases for U.S. customers. The company also works with the U.S. Marshals Service to manage and liquidate seized digital assets, and it provides custody for Bitcoin ETFs issued by BlackRock and Fidelity.
In addition, Coinbase has plans to launch a Mag7 crypto-equity index futures contract via its payday-derivatives branch. As reported by BTCDaily, Coinbase and OKX have also begun work on crypto products for Australian SMSFs, signaling a foray into retirement investment.
If approved, the OCC charter will place Coinbase among a handful of federally chartered crypto firms. It would grant wider regulatory clarity to the company and strongly position it at the nexus of the traditional and digital financial world.
