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Coinbase, the largest U.S.-based cryptocurrency exchange, announced on Friday its application for a national trust company charter from the Office of the Comptroller of the Currency (OCC). The move positions Coinbase alongside other major crypto firms pursuing similar licenses to strengthen their regulatory footing.
Greg Tusar, Coinbase’s vice president of institutional product, said the OCC charter would streamline oversight for new products and support innovation in integrating digital assets with traditional finance. “We’re not the first crypto company to seek a federal charter, and we won’t be the last,” Tusar noted, emphasizing the company’s commitment to responsible growth.
Tusar clarified that Coinbase has no plans to operate as a traditional bank, highlighting the firm’s focus on transparency and regulatory trust. Other crypto firms, including Paxos, BitGo, Ripple, and Circle, have also sought OCC charters amid an increasingly favorable regulatory climate for digital finance.
