Coinbase gets conditional approval for a national trust company

Coinbase announced conditional OCC approval to charter Coinbase National Trust Company on 2 April. The company says the proposed entity would bring federal oversight to its custody and market-infrastructure operations. It explicitly says it is not becoming a commercial bank, taking retail deposits or pursuing fractional-reserve banking.

Conditional approval leaves requirements to satisfy before a final charter. Coinbase also said its existing New York regulatory arrangements would continue: the national-trust plan does not remove its BitLicense or state trust oversight. The distinction matters for institutions choosing a custody provider. A future federal entity, an existing operating company and a retail trading account do not all have the same legal role or protections.