Coinbase Global Inc. has asked the United States Office of the Comptroller of La Moneda (OCC) for a National Charter of the Fiduciary Company, a license that would bring part of its cryptographic business under federal regulation. The application marks another step in the coinbase effort to anchor its operations within a clearer legal framework as US regulators increase the scrutiny of the digital asset industry.
The letter would allow Coinbase to operate as a limited purpose trusted company, subject to the same federal supervision as the banks, but without participating in loans or taking deposits. The company said the license would expand its ability to offer payment and custody services while maintaining its focus on cryptographic assets.
Direct control over fiduciary transactions
Coinbase’s current Fiat operations depend on associated banks to process deposits, withdrawals and agreements linked to cryptography trade. The trust letter would give the exchange to the authority to administer those flows internally, offering more flexibility in how to handle customer funds.
Coinbase said that the trust letter will allow you to offer regulated payment and custody services while continuing to operate as a digital asset platform.
Clear regulation and direct supervision allow us to innovate in a responsible and safe way, Coinbase said in a statement.
The former Coinbase engineer, Luke Youngblood, who helped develop the exchange systems, said a trusted letter could simplify the fiduciary infrastructure of Coinbase.
It would mean that Coinbase manages his own fiduciary rails instead of enruption through partner banks, said Youngblood, noting that the company’s performance has “substantially improved” since 2022.
Rival cryptographic companies also look for federal trusted charters
The coinbase application is part of a growing impulse of the main cryptocurrency companies to obtain federal trust licenses. Circle, the USDC Stablecoin issuer, submitted its letter application in July to operate as a fiduciary company regulated by the federal government, giving it direct authority over US dollars. Ripple Labs continued shortly after, with the aim of strengthening compliance and custody capabilities for their payment and Stablecoin services.
Licenses are considered a strategic tool to simplify operations in the United States, avoiding the mosaic of state money transmitter regulations that can delay transactions and increase compliance costs. For institutional clients, a charter regulated by the federal government points out that the company meets the rigorous standards of custody, reports and operational security, criteria that many banks and investors require before associating with a cryptographic company.
The CEO of Ripple, Brad Garlinghouse, described the letter as a “reference point for credibility in digital payments and stable”, highlighting the role that federal supervision plays to legitimize cryptographic operations for interested parties of traditional finances. Analysts say that these trusted cards could become a competitive differentiator, giving the direct control of companies about fiduciary flows while reducing dependence on associated banks.
Coinbase expands in Europe, increases Bitcoins holdings
Coinbase has extended its international operations while adding to its cryptocurrency reserves. The exchange received approval under the EU markets in the crypto-active framework (Mica) through the Luxembourg financial regulator, which allows it to provide trade, custody and Fiat services in the 27 EU member states in accordance with the EU regulations.
In the second quarter of 2025, Coinbase bought 2,509 Bitcoin, for a value of around $ 222 million, which carries its total corporate holdings to 11,776 BTC. This places the company just ahead of Tesla among the companies that are quoted in the stock market with the largest Bitcoin reserves.
The combination of European regulatory approval and significant Bitcoin holdings in the balance position Coinbase to operate more regulatory more while maintaining a strong presence in national and international markets.
Coinbase’s trusted letter could establish a precedent
Coinbase has requested a letter from the National Trust Company of the Occ, with the aim of operating parts of its business under federal supervision. If approved, the license would allow the exchange to manage fiduciary transactions directly and comply with federal regulatory standards, which reduces the dependence of associated banks.
The letter would create a framework for digital asset companies to provide regulated financial services, potentially configuring how US regulators structure the supervision of cryptographic exchanges and Stablecoin operations in the future.
Also read: Bitcoin could reach $ 135,000 soon, says Standard Chartered
(Tagstotranslate) Coinbase Trust Charter (T) Coinbase Occ request
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