Coinbase Global Inc., the largest U.S.-based cryptocurrency exchange, is seeking a national trust charter from the Office of the Comptroller of the Currency (OCC) to expand its payments and related services. The move, announced Friday, reflects Coinbase’s push to strengthen its role in digital payments without turning into a traditional bank.
The crypto market is global, and we need uniform national rules to protect every consumer as the market continues to evolve.
— Coinbase 🛡️ (@coinbase) October 3, 2025
That’s why we’ve applied for a @USOCC national trust charter and the federal regulatory oversight and clarity that it provides.
Greg Tusar, Coinbase’s vice president of institutional product, emphasized in a company blog post that the exchange “has no intention of becoming a bank.” Instead, the charter would provide regulatory clarity, streamline oversight, and support innovation as cryptocurrencies continue to integrate with mainstream financial systems.
Payments have become a growing priority for Coinbase, particularly with the rapid rise of stablecoins—digital tokens tied to traditional currencies. Adoption has surged in recent months, boosted by new U.S. legislation regulating stablecoins signed into law in July. To accelerate this trend, Coinbase has partnered with companies such as Shopify to promote wider use of USD Coin (USDC), the second-largest stablecoin globally. Coinbase supports USDC and shares revenue with its issuer, Circle Internet Group.
The exchange is not the only crypto firm pursuing an OCC trust charter. Circle, Ripple Labs, and Paxos have all filed similar applications this year, while Anchorage Digital Bank NA has already obtained one. Meanwhile, lawmakers in Washington are weighing broader regulatory changes, with a market-structure bill expected to advance in the Senate later this month, though final passage may not come until next year.
