TechFlow, October 4 — Coinbase, the largest cryptocurrency exchange in the United States, announced it is applying to the Office of the Comptroller of the Currency (OCC) for a federal trust company charter. Greg Tusar, Vice President of Institutional Products at the company, stated that the license would streamline regulatory processes for new products and advance the integration of digital assets with traditional finance. Tusar emphasized that Coinbase does not intend to become a bank, but believes clear regulations and regulatory trust will support continued innovation while maintaining security. With the Trump administration fostering a more favorable regulatory environment, crypto firms including Paxos, BitGo, Ripple, and Circle have recently also submitted applications for OCC banking charters. Analysts note that a federal trust charter would enable Coinbase to access the Federal Reserve's payment systems directly and enhance credibility for its stablecoin and custody services. If approved, Coinbase would become the fifth cryptocurrency firm to obtain a federal-level charter.
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