Coinbase Applies for National Trust Charter to Expand Custody Services

Coinbase applies for a National Trust Charter to expand custody services and strengthen regulatory clarity for the crypto industry.

Fridah Kangai
October 5, 2025
1:30 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Coinbase seeks National Trust Charter for expanding custody services.
Crypto firms like Ripple and Circle push for regulatory clarity.
National charter would unlock new business opportunities for Coinbase.

Coinbase has filed an application with the Office of the Comptroller of the Currency (OCC) for a National Trust Company Charter. The company aims to strengthen its custody services and operate under clearer federal regulations. According to a tweet from Coinbase, this application is a significant step for the company.

Nevertheless, Coinbase has explained that it does not plan to become a bank. The Coinbase Custody Trust Company (CCTC) will continue to be regulated by the New York Department of Financial Services (NYDFS).

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If the charter is passed, it will enable Coinbase to offer new products and services. These may be payment solutions and other related services. Having better regulations, Coinbase has a chance to find increased trust among institutional investors.

The crypto market is global, and we need uniform national rules to protect every consumer as the market continues to evolve.

That’s why we’ve applied for a @USOCC national trust charter and the federal regulatory oversight and clarity that it provides.
— Coinbase 🛡️ (@coinbase) October 3, 2025

This would lead to a higher uptake in the crypto space. The relocation underscores the company’s commitment to complying with the various regulatory requirements as the cryptocurrency industry continues to expand.

Other Crypto Firms Follow Coinbase’s Lead in Pursuit of Charters

The application of Coinbase is just one of a larger trend in the cryptocurrency industry. Ripple, Paxos, and Circle are also companies that seek national charters. Ripple has announced its intention to apply for a national bank charter.

Circle and Paxos have tried to turn their state trust charters into national ones with the OCC. These actions are indicative of an increased need for a more stable regulatory system throughout the industry.

Through the quest for national charters, crypto companies will gain access to more customer and institutional credibility. The growth in the movement towards federal regulation demonstrates the growing attention that the sector is now paying to regulatory clarity.

In the case of Coinbase, an opportunity with the charter might open new business opportunities. This will involve expanding its products and services while adhering to the financial laws in the United States.

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