Coinbase Joins Crypto Rush for Federal Banking Charters

Reading Time: < 1 minute

The largest US crypto exchange, Coinbase, is the latest firm to apply for a national trust company charter from the OCC.

This places it in a growing cohort of crypto companies, including Paxos, BitGo, and Circle, seeking the benefits of a federal banking license. The trend has gained momentum under a Trump administration perceived as friendly to the crypto industry.

While Coinbase explicitly stated it does not want to become a bank, it believes the charter will provide the “clear rules” and “proper oversight” necessary to safely bridge the digital and traditional finance worlds.