Crypto exchange Coinbase received final approval from a U.S. regulator to establish Coinbase National Trust Company (CNTC), which will provide custody services to institutional clients under federal oversight.
U.S. crypto exchange Coinbase announced that the Office of the Comptroller of the Currency (OCC) approved its application to establish Coinbase National Trust Company. The decision allows the company to grow its digital asset custody business under a single federal regulatory framework.
The charter broadens the regulatory foundation of Coinbase’s custody business. The company plans to use its new status to offer institutional clients crypto custody services with uniform federal requirements for security, compliance, and oversight.
Coinbase has operated in the digital asset custody market for more than 14 years. Its clients include major international financial institutions. The company believes federal regulation will help bring crypto custody infrastructure closer to the standards of the traditional financial sector.
Before the OCC approval, Coinbase’s custody business operated mainly under New York State regulation. In 2017, Coinbase Inc. received a BitLicense to conduct regulated virtual asset activity in New York, and in 2018, Coinbase Custody Trust Company was approved to operate as a limited-purpose trust company under state jurisdiction. The company’s new status moves CNTC’s trust activities under single federal oversight and adds to the regulatory infrastructure Coinbase built in cooperation with the New York State Department of Financial Services (NYDFS).
Coinbase said the federal approval was the result of years of work on regulatory compliance and client asset protection. The company plans to keep developing custody services for financial institutions as crypto becomes more integrated into the traditional financial system.
Coinbase applied to the OCC for a national trust charter in October 2025.
