PYMNTS· PYMNTS·· 2 hours agoSelectedAI score70
Coinbase receives OCC approval to establish a national trust bank
Coinbase Gets OCC’s Blessing to Launch Trust Bank
AI brief
AI-assisted source summary · not independently verified. Content standards
Coinbase has received OCC approval to establish a national trust bank, after receiving conditional approval in April. The charter will help Coinbase expand its custody business and enter the payments sector; people familiar with the matter said the approval could also allow it to issue its own stablecoin and help other crypto companies issue and manage stablecoins.
Why it matters
Coinbase’s approval to establish a national trust bank shows how digital asset companies can expand into custody and payments through a federal banking charter, while also facing closer regulatory scrutiny.
Source:PYMNTS · pymnts.com