Coinbase’s national trust bank charter takes effect

Coinbase National Trust Company’s national trust bank charter took effect on Nov. 6, according to the [Office of the Comptroller of the Currency’s application record](https://apps.occ.gov/CAS/home/details?FilingID=3RAoRRek6o4j&FilingSubtypeID=1093&FilingTypeID=2). The federal charter puts the company’s planned custody operations under OCC supervision; it does not make Coinbase a full-service bank.

What did the OCC approve, and when?

The OCC record lists the application as “Consummated/Effective” on Nov. 6, after recording approval on April 2. Coinbase said the regulator had elevated its previously conditional approval to a full charter, [CoinDesk reported](https://www.coindesk.com/policy/2026/11/09/coinbase-gets-full-u-s-trust-charter-from-federal-banking-regulator) on Nov. 9.

What services can the trust bank provide?

The OCC’s April charter decision describes a national trust bank focused on digital-asset custody, primarily for institutional clients, and related transactions involving assets held in customer custody accounts. The decision says the proposed bank would not take deposits or make commercial loans, and would not be an insured depository institution.

The OCC decision also describes access to some Coinbase affiliate products, including staking, prime trading and financing, as services for custody clients. It says the bank would act as a finder for those products rather than provide the underlying services itself.

What happens to Coinbase’s custody business next?

The OCC’s decision said Coinbase planned to move its custody business from its New York state-chartered trust company to the national trust bank over a three-year period. The public filing confirms the charter is effective, but does not specify when the migration will begin or how much customer business has moved.