Coinbase Global Inc., the largest US crypto exchange, has secured final regulatory approval for its trust-bank charter, marking another step for digital-asset firms into traditional finance. The Office of the Comptroller of the Currency approved the license last week, allowing Coinbase to expand its custody business and explore areas like payments.
The new license could also boost Coinbase’s stablecoin operations. According to people familiar with the matter, the approval lets Coinbase issue its own stablecoins and assist other crypto firms in managing those tokens.
Coinbase’s application highlighted the potential to grow its custody services and integrate deeper into traditional financial services. The move reflects a broader trend of crypto companies seeking regulatory approval to operate within the conventional banking framework.