Coinbase goes after National Trust Charter But don’t call it a bank
Coinbase announced on Friday that it has submitted an application for a National Trust Company Charter with the Office of the Comptroller of the Currency. This strategic move is aimed at allowing the exchange to expand its offerings, including custody, payments, and other financial services, while operating under federal supervision. By obtaining this charter, Coinbase aims to enhance trust and security for its users, providing a more robust framework for its growing operations.
The company made it clear that this step does not indicate a shift toward traditional banking. Coinbase’s primary focus remains on cryptocurrency services and supporting its global user base. The charter is intended to strengthen its infrastructure, not change its mission. This approach allows Coinbase to scale responsibly while maintaining its position in the crypto ecosystem.
What the Coinbase National Trust Company Charter would allow
An OCC national trust company charter can bring parts of Coinbase’s business under a single federal supervisor, potentially streamlining approvals for custody, settlement and certain payments activities. Coinbase framed the charter as a way to “bridge” crypto with traditional finance while operating under clearer rules. Coinbase+1
Why the Coinbase National Trust Company Charter isn’t a bank charter
Coinbase says explicitly it does not plan to become a commercial bank with retail deposits and lending. Commentators note that trust companies historically faced narrower activity limits than other banks—though those distinctions have blurred over time.
Voices & product implications
Luke Youngblood (ex-Coinbase, staking architect) said in a podcast published Friday that a trust charter could enable “built-in on-ramps/off-ramps” without relying on partner banks. He also praised recent improvements in Coinbase’s retail app.
Who else is seeking OCC charters?
Circle applied to establish a national trust bank this summer.
Ripple filed for a Ripple National Trust Bank; the OCC’s portal shows the application entry and stakeholders have lodged public comments.
Today in Crypto: Policy, platforms, and security
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Samsung expands Coinbase integration in Galaxy Wallet
Samsung Wallet
now provides special access to Coinbase One for more than 75 million U.S. Galaxy users, with global expansion planned; Coinbase also highlighted a Samsung Pay integration to simplify purchases.
Unity Android flaw and crypto wallets
Unity
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<section id=”howto”> <h3>How to monitor an OCC trust charter application</h3> <ol> <li id=”step1″><strong>Step 1:</strong> Check the OCC’s Weekly Bulletin and licensing activity for new filings and comment periods.</li> <li id=”step2″><strong>Step 2:</strong> Use the OCC CAAS/CATS portal to look up application details (name, type, status) when available.</li> <li id=”step3″><strong>Step 3:</strong> Note public comment deadlines and submit feedback via the channels listed by OCC.</li> <li id=”step4″><strong>Step 4:</strong> Track company blog/newsrooms (e.g., Coinbase) for product scope and regulatory updates.</li> <li id=”step5″><strong>Step 5:</strong> Watch major outlets (CoinDesk/Bloomberg/Reuters) for approvals, conditions, or supervisory agreements.</li> </ol> <p><em>Note: Processes and disclosure vary by filing; always rely on OCC notices for official status.</em></p> </section>
Context & Analysis
A trust charter would not transform Coinbase into a full-service bank, but it could reduce fragmentation across state and federal regimes, especially for custody and payments. With Circle and Ripple also pursuing charters, federal frameworks alongside the UK’s retail ETN opening point to tighter, more standardized oversight while expanding access.
Conclusion
If approved, Coinbase’s National Trust Company Charter could expand its payments and custody services under one federal regulator, all without becoming a traditional retail bank. This move would allow the company to offer more seamless, federally supervised crypto solutions while maintaining its core focus on digital assets.
In the near term, investors and users should monitor updates from the OCC, including any conditions attached to the approval. Additionally, how UK retail ETN trading evolves may influence demand for regulated crypto exposure, providing insight into the appetite for federally supervised crypto products in global markets.
FAQs
Q : What is the Coinbase National Trust Company Charter?
A : It’s Coinbase’s application for an OCC-supervised national trust company to expand regulated services like custody and payments.
Q : Does this make Coinbase a bank?
A : No. Coinbase states it has no intention of becoming a bank and is pursuing a trust charter, not a commercial bank charter.
Q : Why pursue a trust charter now?
A : To “bridge” crypto and TradFi under clearer, federal oversight while scaling payments and custody offerings.
Q : Which other crypto firms are seeking similar charters?
A : Circle and Ripple have filed trust bank applications with the OCC in recent months.
Q : When will UK retail investors be able to buy crypto ETNs?
A : From Oct. 8, 2025, on FCA-recognised UK exchanges.
Q : What did Samsung announce with Coinbase?
A : Special access to Coinbase One via Samsung Wallet for more than 75M U.S. Galaxy users, with plans to expand.
Q : Is there a current security issue affecting crypto gamers?
A : Yes. Unity disclosed a vulnerability; developers have patches and users should update affected apps.