Coinbase has received full approval for its national trust bank charter, marking another major step in the integration of digital asset firms into the US federal banking system. The Office of the Comptroller of the Currency (OCC) recorded Coinbase National Trust Company’s charter as effective on November 6, 2026, following a conditional approval granted on April 2, 2026.
The approval allows Coinbase to operate a federally supervised trust company focused on institutional custody and fiduciary digital asset services. Coinbase intends to migrate its existing custody business into the new federal entity over a three-year initial operating period. Its October 2025 application reported $245.7 billion in assets under custody as of June 30, 2025, representing roughly 7% of the cryptocurrency market at the time. The OCC has set a $60 million minimum Tier 1 capital requirement for the trust’s first three years and requires liquid assets and reserves covering 180 days of operating expenses.
Coinbase’s approval follows Ripple’s final OCC approval on October 26, 2026. Ripple National Trust Bank received conditional approval in December 2025 and will manage segregated reserves backing RLUSD, act as collateral trustee, and provide fiduciary digital asset custody. RLUSD issuance will remain with Standard Custody & Trust Company, Ripple’s New York-regulated trust company.
However, the expansion has drawn opposition. The Independent Community Bankers of America (ICBA) filed a lawsuit against the OCC on October 2, arguing that the regulator exceeded its authority by expanding national trust charters to crypto firms without traditional bank requirements such as FDIC insurance and Community Reinvestment Act obligations. The case challenges the OCC’s March 2026 rule and could shape regulatory pathways for other digital asset companies.
The OCC stated that Coinbase National Trust Company would not directly provide staking, trading, or financing, and that the charter should not be presented as approval for stablecoin issuance. Material business-plan changes require 60 days’ advance notice and written regulatory clearance.
