Coinbase has secured final approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, marking a significant regulatory milestone. The approval, granted last week, follows a conditional approval in April 2026. Over the past months, Coinbase has addressed all outstanding regulatory conditions to meet the OCC’s requirements for operating as a national trust bank.
The charter will enable Coinbase to offer crypto custody services and develop payment-related operations under a federal regulatory framework. It will also support the company’s stablecoin operations, including issuing tokens and managing stablecoins for other firms. However, Coinbase National Trust will not function as a conventional commercial bank, as it cannot accept deposits from ordinary customers or provide traditional commercial loans.
Despite this regulatory victory, Coinbase’s stock ($COIN) dropped 1.51% in the past trading day, closing at $134.76. The decline may be attributed to opposition from traditional banking groups, such as the Independent Community Bankers of America, which has sued the OCC over its authority to issue charters to digital asset firms. Additionally, the SEC has proposed changes to broker-dealer regulations covering digital assets.
Coinbase has also recently secured a legal win in New Jersey, where regulators dropped a lawsuit over its staking services and lifted a cease-and-desist order. Financially, the company reported $719 million in net income for Q3 2026, up from $433 million a year earlier, and achieved its 15th consecutive profitable quarter with an adjusted EBITDA of $333 million, a 60% increase quarter-over-quarter.