Coinbase Receives Final OCC Approval for Trust Company Formation

The American cryptocurrency exchange Coinbase has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish the Coinbase National Trust Company. This new entity will allow the company to develop cryptocurrency custody services for institutional investors within a unified federal regulatory framework.

Coinbase announced the approval on November 9, 2026. According to the OCC registry, preliminary approval was granted on April 2, and the new status took effect on November 6.

The company will be able to provide institutional clients with digital asset custody services under federal oversight. Previously, this area operated through Coinbase Custody Trust Company, which received a New York State trust license in 2018 and was under the supervision of the local regulator NYDFS.

What Opportunities Coinbase Has Gained

According to the OCC document, Coinbase National Trust Company will be able to store crypto assets, service custodial accounts, and facilitate related digital asset and cash transfers.

However, the new status does not turn Coinbase into a regular commercial bank. It does not include standard activities such as accepting insured retail deposits and issuing bank loans.

Clients of the trust company will also be able to access staking, trading, and financial services through other Coinbase divisions. Coinbase National Trust Company itself will not directly provide these products.

Over the next three years, Coinbase plans to transfer its existing custodial business from the New York State-regulated structure to the new federal organization.

Coinbase's Head of Trading and Custody, Rick Schonberg, noted: "Asset custody is at the core of our business."

Why the OCC Decision is Important for the Crypto Market

The federal status allows Coinbase to develop its custodial infrastructure within a unified supervisory system, which is especially important for investment funds, banks, and other financial organizations working with digital assets.

For institutional clients, not only is the technical security of cryptocurrency storage important, but also the custodian's compliance with regulatory requirements. The OCC's approval strengthens the legal foundation for providing such services, although it does not guarantee protection from all operational and market risks.

The decision also reflects the expansion of the regulated infrastructure of the U.S. cryptocurrency market. Coinbase gains the ability to strengthen its institutional segment, which complements its main exchange business.

Previously, UNUM reported on the conditional approval by the OCC, granted to Coinbase in April 2026. Now the regulatory process has concluded with the receipt of final approval.