Coinbase gets a federal charter, but it won’t become a deposit-taking bank

Coinbase has secured a full federal national trust bank charter from the U.S. Office of the Comptroller of the Currency (OCC), with the process completed on November 6, 2026. The move brings its institutional crypto custody business under direct federal supervision, but doesn’t allow it to take ordinary retail deposits or make loans.

What does the new charter allow Coinbase to do?

The charter allows Coinbase National Trust Company to hold client assets with a duty to act in their best interest. The focus is custody, i.e. holding and managing crypto assets for institutional clients.

According to Bitcoin Magazine, Coinbase applied in October 2025 and received preliminary approval on April 2. Organizational and operational preparations followed. CryptoPotato reports that these included compliance systems, hiring and supervisory checks.

The company already runs a similar business through Coinbase Custody Trust Company, supervised by New York State. It plans to move it to the new federal entity within three years.

What can’t Coinbase National Trust do?

The full approval doesn’t turn the new entity into a commercial bank, nor does it give it a license to issue stablecoins, i.e. digital coins that aim to keep a stable value against a reference asset.

Think of the difference between a professional who safeguards your assets and a bank where you deposit your paycheck and apply for a loan. The charter covers the first function, not the second.

Staking, institutional trading and financing services remain with Coinbase affiliates. The trust bank acts as an intermediary without carrying them out directly. Nor does it automatically gain access to the U.S. Federal Reserve’s payment systems; that requires a separate application.

What capital requirements does the OCC impose?

Coinbase National Trust must maintain at least $60 million in Tier 1 core regulatory capital. For the first three years, it also needs enough liquid assets to cover 180 days of operating expenses.

This, in our view, is the heart of the news: specific requirements and direct supervision, not just a banking label. The company, however, did not disclose any financial impact from the charter.

Why are U.S. banks pushing back?

Banking associations question whether these charters give crypto companies advantages without the same obligations that traditional banks have. Coinbase follows Circle, which received final approval in July, and Ripple, which secured it on October 26.

According to CryptoPotato, the community bank association ICBA has sued over an OCC rule published in March 2026 that clarifies trust banks can carry out certain activities beyond fiduciary services. The lawsuit concerns that framework, not Coinbase’s final charter specifically.

In the background there is also a fight over stablecoins: Coinbase wants to reward customers who hold them, while banks fear losing deposits.

What does it mean for the market and for users in Greece?

The change mainly concerns U.S. institutional custody and doesn’t announce any new deposit or lending options for users in Greece. We see a step toward clearer supervision, not a certificate that there is no risk. From here, we are watching the transfer of existing clients to the new entity and the outcome of the legal challenge to the framework.