Coinbase goes after National Trust Charter — But don’t call it a bank

Crypto exchange Coinbase is pursuing a National Trust Company Charter but said it has "no intention of becoming a bank."

Crypto exchange Coinbase has applied for a National Trust Company Charter with the Office of the Comptroller of the Currency (OCC), joining a growing number of US-based crypto companies pursuing the same license.

“Coinbase is taking a significant step in expanding our business capabilities and regulatory oversight beyond the existing framework, paving the way for innovation and growth in building a modern financial system powered by digital assets,” Coinbase said in a statement on Friday.

According to Coinbase, pursuing the license is part of its strategy “to bridge the gap between the crypto economy and traditional financial system.” However, it has no interest in changing the core focus of its operations:

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