Coinbase has received final approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, the company confirmed. The OCC, which supervises national banks, granted final approval last week, following conditional approval in April 2026.
From Conditional to Final Approval
The initial approval indicated that Coinbase had met certain requirements to proceed but still needed to address outstanding regulatory conditions before full authorization. Over the following months, Coinbase took steps to satisfy the OCC’s requirements for operating as a national trust bank.
With the final charter, Coinbase can provide crypto custody services and develop payment-related operations under a federal regulatory framework. The authorization also supports its stablecoin operations, including issuing tokens and managing stablecoins for other companies.
However, the approval does not make Coinbase a conventional commercial bank. Coinbase National Trust cannot accept deposits from ordinary customers or provide traditional commercial loans.
Industry Pushback
Coinbase joins Ripple, Revolut, Paxos, BitGo, and Circle in receiving approval for a national trust bank charter. Despite this milestone, Coinbase stock ($COIN) was trading at $134.76 after a 1.51% drop in the past trading day.
The OCC’s decision to grant national trust bank charters to crypto companies has faced opposition from traditional banking groups. The Independent Community Bankers of America recently sued the regulator, questioning its legal authority to issue certain charters to digital asset firms.
Separately, the SEC has proposed changes to existing broker-dealer regulations covering capital requirements, customer asset protection, and recordkeeping for firms handling digital assets.
Other Developments
Coinbase also secured a legal victory in New Jersey after regulators dropped their lawsuit over its staking services and lifted a cease-and-desist order.
In addition, Coinbase reported $719 million in net income for Q3 2026, compared with $433 million a year earlier. Adjusted EBITDA reached $333 million, up 60% quarter-over-quarter, marking its 15th consecutive profitable quarter on this metric.
