Coinbase Strengthens Commitment to Innovation and Oversight with National Trust Charter Application

Coinbase is taking a significant step in expanding our business capabilities and regulatory oversight beyond the existing framework, paving the way for innovation and growth in building a modern financial system powered by digital assets. By seeking a National Trust Company Charter from the Office of the Comptroller of the Currency (OCC) to expand upon our industry-leading Custody business, we’re aligning with our long history of securing licenses that hold Coinbase to the highest standards and position us to bridge the gap between the crypto economy and traditional financial system. 

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. If approved, the charter would continue to open up opportunities for Coinbase to launch new products beyond custody, including payments and related services, with the confidence of regulatory clarity, fostering broader institutional adoption. 

As we pursue a national charter, Coinbase Custody Trust Company (CCTC) and Coinbase Inc. will continue operating under the oversight of the NYDFS. Since 2015, NYDFS’s pioneering BitLicense framework has fostered operational maturity and institutional trust, enabling Coinbase and the broader crypto industry to progress toward obtaining a federal charter today. 

Coinbase has long sought uniform rules and regulations for crypto. While progress is underway in Congress to craft clear market structure, crypto is already woven into the fabric of the financial system. An OCC charter will streamline oversight for new offerings and enable continued innovation to integrate digital assets into traditional finance. We’re not the first crypto company to seek a federal charter and we won’t be the last. Achieving this milestone now will position Coinbase to succeed as the future of finance unfolds.

We look forward to working with OCC staff throughout their review process and collaborating to address any feedback from the agency or questions derived through public comment.