TLDR
The OCC granted Coinbase final approval for a national trust bank charter.
The charter covers crypto custody, payments and stablecoin services.
Coinbase National Trust cannot take customer deposits or make commercial loans.
Community bankers have sued the OCC over crypto charters.
Coinbase shares fell 1.51% to $134.76.
Coinbase now has full federal approval to run a national trust bank. The charter comes with clear limits on what the crypto exchange can do.
The Office of the Comptroller of the Currency, which oversees national banks in the U.S., granted Coinbase final approval last week. The decision follows a conditional approval the regulator issued in April 2026.
The conditional approval meant Coinbase had met certain early requirements. It still had to address remaining regulatory conditions before getting full authorization. Over the following months, the company completed the steps the OCC required.
JUST IN: $COIN wins final OCC approval for a federal trust charter.
Coinbase National Trust Company will hold digital assets for institutions under federal oversight. pic.twitter.com/xfJXNptNqO
— Bitcoin For Corporations (@BitcoinForCorps) November 9, 2026
What the Charter Allows and What It Does Not
The new charter lets Coinbase offer crypto custody services under a federal regulatory framework. Custody means holding and protecting digital assets on behalf of clients.
Coinbase can also build payment-related operations under the same federal rules. The approval also supports its stablecoin business, including issuing tokens and managing stablecoins for other companies.
However, the approval does not make Coinbase a regular commercial bank. The new entity, Coinbase National Trust, cannot accept deposits from ordinary customers. It also cannot provide traditional commercial loans.
Coinbase is not the only crypto firm to reach this stage. Ripple, Circle, Paxos and BitGo have also won OCC approval for national trust bank charters. Revolut has received conditional approval.
These approvals place the firms under the same federal agency that supervises national banks. Each operates as a trust bank rather than a full commercial bank.
Pushback From Banks and New Rules
The OCC’s decision to grant these charters to crypto companies has drawn opposition from traditional banking groups. The Independent Community Bankers of America recently sued the regulator. The lawsuit questions whether the OCC has the legal authority to issue certain charters to digital asset firms.
The Securities and Exchange Commission has also proposed changes to existing broker-dealer rules. The proposals cover capital requirements, customer asset protection and recordkeeping for firms that handle digital assets.
The charter approval came after a legal win for Coinbase in New Jersey. State regulators dropped their lawsuit over the company’s staking services. They also lifted a cease-and-desist order tied to the case.
Staking lets users lock up certain crypto tokens to help run a blockchain network in exchange for rewards. The New Jersey case centered on this service.
Coinbase also reported higher profit in its most recent quarter. The company posted $719 million in net income for the third quarter of 2026. That compares with $433 million in the same quarter a year earlier.
Adjusted EBITDA, a measure of earnings before interest, taxes, depreciation and amortization, reached $333 million. That figure was up 60% from the previous quarter. It marked Coinbase’s 15th straight profitable quarter on this measure.
Even so, Coinbase shares dropped about 10% after that earnings report came out. The decline came despite the jump in profit from a year earlier.
The stock has not gained on the charter news either. Coinbase shares traded at $134.76 after falling 1.51% over the past trading day.
The post Coinbase Shares Slip Even as Regulator Grants Final Trust Bank Approval appeared first on Blockonomi .
