Coinbase secures final federal approval for national trust charter custody
Image: CryptoSlateThe Office of the Comptroller of the Currency granted final approval for Coinbase National Trust Company to operate its custody business under a national trust charter. The federal framework replaces state licenses for the custody service. The approval authorizes a gradual transfer of client accounts from Coinbase's New York trust company to the new national bank.
Key points
- The Office of the Comptroller of the Currency approved the charter for Coinbase National Trust Company.
- The federal framework replaces state licenses for the custody business.
- The approval allows a gradual transfer of client accounts from the New York trust company.
Why it matters
The federal framework lets Coinbase operate its custody business under one national standard instead of multiple state licenses.
Sources · 2 publishers
CryptoSlate
Tier 2
Coinbase wins national trust charter, and strict OCC mandates apply
Coverage timeline
- First reported by The Daily Hodl
- Also reported by CryptoSlate
- CryptoVideos brief published
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