Coinbase receives approval to become a chartered trust bank

The new status lets the company handle payments and custody services.

By Steve Dent Nov. 9, 2026 8:40 am EST Mamun_Sheikh/Shutterstock Add Engadget on Google: Google Discover

Coinbase has received approval from the US Office of the Comptroller of Currency to become a nationally chartered trust bank, the crypto company announced. The designation is more limited than a full bank charter, so Coinbase won't be able to handle regular deposits or grant loans. However, the new status will allow it to conduct payments and custody services, and expand its stablecoin business.