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Ahmed Barakat
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Coinbase has moved closer to the center of the US financial system after securing full approval for its national trust bank charter. The Office of the Comptroller of the Currency (OCC) recorded the charter as effective on November 6. The development gives Coinbase a federally supervised framework for expanding its institutional custody and digital asset services.
The approval completes a process that began with Coinbase’s application in October 2025. The OCC granted conditional approval on April 2, 2026, before recording the charter as consummated. Coinbase can now operate through its national trust company under federal supervision.
Coinbase follows Ripple’s final OCC approval on October 26. Two major crypto companies have now secured national trust bank charters within weeks. Their progress shows how digital asset firms are increasingly seeking access to regulated financial infrastructure rather than operating outside traditional banking frameworks.
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Coinbase Bank Follows Ripple Into Federal Banking
Coinbase’s approval follows a similar regulatory path taken by Ripple. The company received conditional approval for Ripple National Trust Bank in December 2025. Its final approval arrived on October 26, completing the process ahead of Coinbase.
Ripple’s charter has specific implications for its stablecoin business. Ripple National Trust Bank can manage the segregated reserves backing RLUSD. It can also act as collateral trustee and provide fiduciary digital asset custody services.
RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated trust company. The new federal charter adds another layer of supervision around its reserve management and institutional services.
Coinbase Bank has a different commercial opportunity. Its national trust company can provide federally supervised custody and fiduciary services to institutional clients. Coinbase previously said the charter would support its Prime custody business and other regulated services.
Traditional Banks Challenge the OCC’s Crypto Expansion
The growing number of crypto trust bank approvals has not gone unchallenged. The Independent Community Bankers of America (ICBA) filed a lawsuit against the OCC on October 2. The group argues that the regulator exceeded its authority by expanding access to national trust charters.
The banking association claims crypto companies receive federal banking credibility without meeting several requirements imposed on traditional banks. These include FDIC insurance, certain capital and liquidity standards, and Community Reinvestment Act obligations.
The lawsuit challenges the OCC’s March 2026 rule and related guidance. It argues that the regulator has stretched the national trust charter beyond its original statutory purpose.
The dispute could have consequences beyond Coinbase and Ripple. A successful challenge could complicate the regulatory pathway for other digital asset companies pursuing similar charters.
However, the OCC’s approach reflects a wider shift in US financial regulation. The agency has increasingly opened the door to crypto custody, payments, and stablecoin-related activities under federal supervision. This shift also creates opportunities for emerging blockchain infrastructure projects.
Coinbase Bank’s approval represents more than another regulatory milestone. It shows that crypto companies are competing for a larger role in the financial infrastructure institutions will use.
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