Coinbase has won a full national trust bank charter from the Office of the Comptroller of the Currency, upgrading the conditional approval it received in April and putting its institutional custody business under direct federal supervision, the exchange said Monday.

The OCC approved the application for Coinbase National Trust Company last Friday, the company said in a blog post. OCC licensing records, as reported, show the chartering process was completed Nov. 6.

Coinbase applied in October 2025 and received preliminary approval on April 2. In the intervening months it had to finish its organizational and operational preparations before the OCC would let the trust bank open.