Coinbase Receives Conditional OCC Approval for National Trust Company

Coinbase has secured conditional approval from the Office of the Comptroller of the Currency (OCC) to operate as a national trust company, a move that clarifies its position on traditional banking. The approval allows Coinbase to custody digital assets under federal oversight, providing regulatory consistency across state lines.

The trust company model focuses on fiduciary responsibilities, including asset custody and management, rather than deposit-taking and lending activities typical of commercial banks. This approach aligns with the core business activities of cryptocurrency firms like Coinbase.