Coinbase Secures Conditional Approval to Establish a National Trust Company, Will Not Enter Banking

Coinbase Authorized by OCC

On the 2nd, Coinbase, the largest cryptocurrency exchange in the U.S., announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish 'Coinbase National Trust Company'.

Coinbase clarified in this approval that it will not engage in accepting retail deposits or fractional reserve banking. The focus will be on providing custody and market infrastructure services to institutional and retail investors, aiming for regulatory uniformity at the federal level.