GoKawiilCoinbase wins OCC approval for national trust bank charter
The US Office of the Comptroller of the Currency has approved Coinbase's application to become a nationally chartered trust bank, the company announced. The charter is narrower than a full banking license, meaning Coinbase cannot take deposits or issue loans, but it allows the firm to offer payments and custody services and grow its stablecoin operations. Coinbase joins Circle Internet Group and Ripple as the only crypto firms to secure such a charter, after other companies like Block and Wise also sought it.