Coinbase Exchange in Pursuit of US OCC Federal Charter

Key Notes

Coinbase recently disclosed that it has applied for a national trust company charter from the OCC.

The charter is expected to bring a fresh set of regulatory oversight.

Paxos, Circle, BitGo, and Ripple are also seeking a Federal Charter from the OCC.

As part of an expansion of its services, American cryptocurrency exchange Coinbase is pursuing a national trust company charter from the Office of the Comptroller of the Currency (OCC). It has now joined the list of other digital asset service providers seeking the same charter in recent times. The exchange believes that holding this charter will bring significant changes to its operation.

Coinbase to Become a Bank?

On October 3, Coinbase informed the public of its pursuit of the United States OCC Federal Charter, citing that