Coinbase Takes a Significant Step Towards Expanding Regulated Crypto Services
Coinbase, a leading cryptocurrency exchange, has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) for a Charter of the National Trust Company. This move marks a further step by a large crypto company towards operating within a structured regulatory framework. According to Coinbase, the Trust Charter will bridge the gap between crypto and traditional finance, enabling the company to expand its financial services while maintaining a clear regulatory framework.
Coinbase’s Application and Its Implications
The submission positions Coinbase under a growing list of companies for digital assets that are pursuing the same license, including Circle and Ripple. If the license is granted, Coinbase would be able to offer payments and other financial services without relying on third-party banks. This move would reduce the company’s dependence on traditional banking systems and provide a more streamlined experience for its users. As Luke Youngblood, a former Coinbase engineer, noted, a Trust Charter would give Coinbase the flexibility to directly manage fiat inflows and outflows, eliminating the need for partner banks.
Coinbase’s Long-Term Goals and Expansion
Coinbase has stated that it has no plans to become a traditional bank, but rather aims to build a modern financial system that operates on digital assets. The company believes that clear rules and regulatory supervision will enable it to innovate and grow while ensuring the right level of supervision and security. In addition to its application for a National Trust Charter, Coinbase is expanding its reach in Europe, having secured a license as part of the EU’s framework in Luxembourg. The company has also continued its acquisition of companies, purchasing 2,509 BTC for approximately $222 million in the second quarter, bringing its total holdings to 11,776 BTC.
Recognition and Influence
Coinbase has been recognized as one of the 100 most influential companies of 2025 by Time, characterized as a “disruptor” for its significant role in shaping US guidelines and methods for digital assets. The company’s efforts have been driven by its commitment to providing a secure and regulated environment for its users. As the crypto market continues to evolve, Coinbase’s application for a National Trust Charter marks a significant step towards expanding regulated crypto services and bridging the gap between crypto and traditional finance. For more information, visit https://cryptonews.com/news/coinbase-applies-for-national-trust-charter-to-expand-regulated-crypto-services/
