OCC Clears Coinbase National Trust Company for Crypto Custody

The Office of the Comptroller of the Currency has granted final approval to Coinbase National Trust Company, clearing the exchange’s federally chartered entity to offer institutional-grade crypto custody under direct U.S. federal oversight.

The OCC issued its decision in CD-1370, formally authorizing Coinbase National Trust Company to operate as a federally chartered trust bank focused on digital-asset custody. The approval converts an earlier conditional charter into a full operating license, according to Coinbase’s announcement.

Coinbase joins Circle and Ripple as crypto firms that have now secured final OCC trust bank charters, per Decrypt’s reporting. The federal charter places Coinbase National Trust Company under OCC supervision rather than a patchwork of state-level regulators, a distinction that matters for institutional clients weighing custody counterparty risk. For related coverage, see South Korea Crypto Debt-Recovery Rules Start Nov. 1.

What a Federal Trust Charter Means for Crypto Custody

Crypto custody is the safeguarding of digital assets, or more precisely, the private keys that control them. It is distinct from Coinbase’s exchange and brokerage operations. A trust company chartered at the federal level must meet OCC capital, compliance, and examination standards, giving institutional clients a regulated counterparty analogous to a traditional bank custodian. Context on this theme: Sberbank Nears Crypto Trading Launch After Russia Approval.

The custody focus separates this entity from Coinbase’s retail and trading products. Regulatory progress on this front has been moving in parallel with related coverage of U.S. legislative efforts such as the Crypto CLARITY Act.

Coinbase had previously received conditional OCC approval, as noted in an earlier company blog post. The final clearance removes that conditionality, though the full scope of permissible custody activities and any client onboarding timeline would depend on disclosures from Coinbase National Trust Company or the OCC going forward.

What to Watch Next

The OCC’s CD-1370 document is the primary authoritative record of the approval’s terms and any conditions. Coinbase National Trust Company’s own disclosures will clarify which asset classes fall under custody scope and when institutional clients can access the service. Any further OCC guidance on digital-asset trust operations would also apply directly to this entity.

Observers tracking the broader regulatory landscape should note that federal charter approvals for crypto firms remain a small and closely watched category. The Crypto CLARITY Act and related legislation could further define how federally chartered crypto custodians operate alongside spot ETF structures and institutional service frameworks.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.