Coinbase's national trust bank charter takes effect, OCC says
In brief
- OCC says Coinbase's national trust bank charter took effect on Friday.
- Coinbase applied in October 2025 and won preliminary approval in April 2026.
- Coinbase National Trust Company can now hold client digital assets as a fiduciary.
- Coinbase's application outlines segregated custody plus exploring payments and smart-contract custody.
- Ripple, Circle, BitGo, Fidelity Digital Assets and Paxos already hold OCC charters, per Cointelegraph.
From filing to a live charter
Coinbase applied for the charter in October 2025 and received preliminary approval in April 2026, according to the OCC's filing record as cited by Cointelegraph. Friday's effective date came after that preliminary sign-off.
It's a federal charter. The scope comes from the OCC's preliminary approval letter, which says Coinbase National Trust Company can hold digital assets on behalf of clients as a fiduciary (that's the core permission here, not a full commercial banking license).
So what does Coinbase plan to do with it?
What the application lays out
Coinbase plans to expand its institutional crypto custody business under the federal charter, according to Cointelegraph's report. The details sit in the filing itself. According to its charter application, Coinbase plans to offer institutional clients segregated custody accounts, and those clients would reach staking, financing and trading through other Coinbase entities.
The application also outlined plans to explore digital asset payment products. It described custody services that would let clients interact with select smart contracts, too.
These are plans laid out in the application, and the payments and smart-contract pieces are framed as things Coinbase is exploring. They aren't described as launched products.
Coinbase joins a growing list
Coinbase isn't the first crypto firm to go this route. Other crypto companies that have received OCC national trust bank charters include Ripple, Circle, BitGo, Fidelity Digital Assets and Paxos, according to Cointelegraph.
Crypto.com and Stripe-owned Bridge have received conditional approval, the outlet reported. Kraken and EDX Markets are still pursuing charters.
Frequently asked questions
What does Coinbase's OCC national trust bank charter allow?
According to the OCC's preliminary approval letter, the charter lets Coinbase National Trust Company hold digital assets on behalf of clients as a fiduciary. The charter took effect on Friday, according to the OCC.
What does Coinbase plan to offer under the charter?
According to its charter application, Coinbase plans to offer institutional clients segregated custody accounts, with access to staking, financing and trading through other Coinbase entities. The application also outlined plans to explore digital asset payment products and custody services that would let clients interact with select smart contracts.
Which other crypto companies have OCC national trust bank charters?
According to Cointelegraph, Ripple, Circle, BitGo, Fidelity Digital Assets and Paxos have received OCC national trust bank charters. Crypto.com and Stripe-owned Bridge have received conditional approval, while Kraken and EDX Markets are still pursuing charters.
