Why Coinbase’s Bold Move to Snag a US Banking License Could Shake Up the Crypto Game Forever
Just when you thought the world of crypto couldn’t get any more intriguing, Coinbase—and the big league players Ripple and Circle—are stepping up their game by throwing their hats into the ring for a U.S. federal banking license. What’s really cooking here? It’s about more than just adding fancy credentials to their resume; it’s a strategic move to unlock new financial frontiers under the watchful eye of federal regulation. Imagine crypto firms operating with the kind of legitimacy and oversight that could smooth the path to mainstream finance, all while keeping innovation at the forefront. The question is, can traditional banking frameworks and the fast-paced crypto universe find a functional middle ground? We’re about to find out as these digital finance titans look to reshape the landscape with a National Trust Company Charter from the OCC. Ready to dive deeper? LEARN MORE.
Federal charters could streamline oversight and fuel innovation as leading digital asset firms deepen ties to mainstream finance.

Photo: Michael Nagle
Key Takeaways
- Coinbase has applied for a National Trust Company Charter with the OCC.
- The application is focused on Coinbase Custody, but if granted, it would let Coinbase expand into payments and related financial services under federal oversight.
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Coinbase has applied for a National Trust Company Charter from the US Office of the Comptroller of the Currency (OCC), joining Ripple and Circle in pursuing federal oversight to expand their digital asset services.
The company, which runs one of the world’s largest crypto exchanges, is regulated under a patchwork of state licenses, including the New York Department of Financial Services (NYDFS) BitLicense.
Adding a national OCC charter on top of its existing New York state licenses would enhance Coinbase’s custody business and create opportunities for new products, including payments and related services.
“Coinbase has no intention of becoming a bank,” the company stated, emphasizing its focus on bridging the gap between the crypto economy and the traditional financial system.
Since 2015, the NYDFS BitLicense framework has provided operational oversight for crypto companies. Coinbase views the OCC charter as a way to streamline oversight for new offerings and continue innovation in traditional finance integration.
“We’re not the first crypto company to seek a federal charter, and we won’t be the last,” Coinbase said, adding that it will work with OCC staff throughout the review process and address feedback through public comment.
Circle, Ripple, BitGo, and Paxos are also seeking to attain bank charters amidst regulatory changes and increasing opportunities for deeper integration with traditional finance.
Anchorage Digital is the only crypto company to have gained a national trust charter from the OCC. CEO Nathan McCauley said achieving the license involved major compliance spending and close regulatory engagement.
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