Crypto Firms Gain National Trust Bank Charters for Custody and Reserves

A national trust bank charter allows companies to operate as federally regulated banks without offering checking accounts or issuing mortgages. This type of charter is attractive to crypto firms, such as Coinbase and Ripple, because it enables them to focus on custody, stablecoin reserves, and institutional asset servicing.

The Office of the Comptroller of the Currency (OCC) grants these charters, which are distinct from traditional commercial banks. National trust banks usually operate differently, offering fiduciary services, safekeeping, and asset administration rather than consumer lending or FDIC-insured deposits.

Crypto companies want this charter because it provides federal regulatory infrastructure and a single framework for trust and custody activities. This is especially useful for institutions that need to manage assets securely and efficiently.