Coinbase Seeks National Trust Charter to Broaden Regulated Crypto Offerings

Coinbase has submitted an application to the US Office of the Comptroller of the Currency (OCC) for a National Trust Company Charter, representing another step by a prominent crypto entity aiming to function within a more organized regulatory environment.

Key Takeaways:

• Coinbase has sought a National Trust Charter to broaden its financial services under more defined regulations.
• This initiative aims to lessen dependence on third-party banks for fiat transactions while steering clear of conventional banking recognition.
• Circle and Ripple have also lodged comparable applications.

This application places Coinbase among an increasing number of digital asset firms chasing the same license, including Circle and Ripple.

Coinbase Claims Trust Charter Will Connect Crypto with Traditional Finance

In a statement released on Friday, Coinbase indicated that the charter would aid its long-term goal of aligning more closely with traditional finance while continuing to enhance its digital asset infrastructure.

“We are broadening our business capabilities and regulatory framework beyond the current structure, setting the stage for innovation and advancement in creating a modern financial system driven by digital assets,” the company stated.

Despite this initiative, Coinbase emphasized that it has no intentions of transforming into a traditional bank. “Coinbase does not plan to become a bank.

We firmly believe that established regulations and the trust of our regulators and clients empower Coinbase to innovate confidently while maintaining appropriate oversight and security,” the statement continued.

If approved, the license would enable Coinbase to provide payment and other financial services without the necessity of relying on third-party banks for on- and off-ramps.

The crypto market is international, and we require consistent national regulations to safeguard every consumer as the market progresses.
That’s why we’ve applied for a @USOCC national trust charter and the federal oversight and clarity that it entails.

— Coinbase (@coinbase) October 3, 2025

Luke Youngblood, a former Coinbase engineer who contributed to the exchange’s staking program, explained in a recent podcast that a trust charter would provide Coinbase with the capability to directly manage fiat transactions. “No longer relying on partner banks,” he remarked.

Youngblood also highlighted the significant improvements in Coinbase’s retail platform since his departure in 2022.

“During my time there, the debit card was not very effective, and the app was cumbersome. Now, it’s evident that they’ve brought on some exceptional engineering talent.”

This filing occurs at a time when other significant crypto entities are also pursuing trust licenses. Stablecoin issuer Circle submitted its application on July 1, closely followed by Ripple Labs.

Ripple CEO Brad Garlinghouse referred to the license as a “new (and unique!) standard for trust in the stablecoin market.”

TIME Recognizes Coinbase as a 2025 ‘Disruptor’ Among Most Influential Companies

As reported, TIME has acknowledged Coinbase as one of the 100 Most Influential Companies of 2025, designating the crypto exchange as a “disruptor” for its substantial influence in shaping US digital asset regulations and markets.

TIME pointed out the exchange as a pivotal force behind the industry’s policy initiatives and predicted that Coinbase could evolve into the central hub for crypto trading in the US.

Internationally, Coinbase is expanding its presence in Europe, obtaining a license under the EU’s MiCA regulatory framework via Luxembourg’s financial authority.

Significantly, Coinbase has also maintained its corporate Bitcoin accumulation.

In Q2, the firm acquired 2,509 BTC for approximately $222 million, raising its total holdings to 11,776 BTC and reinstating its position among the top 10 public holders of the asset, just ahead of Tesla in terms of coin count.

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