Coinbase secures conditional approval to operate as national trust company.

Coinbase secures conditional approval to operate as national trust company. The cryptocurrency exchange received a green light from the Office of the Comptroller of the Currency to form a federally chartered national trust company. CEO Brian Armstrong emphasized the company is not becoming a bank, clarifying the distinction of this regulatory milestone. This conditional approval represents a significant step for Coinbase in expanding its financial services capabilities and strengthening its regulatory standing. The move allows the platform to offer trust and custody services under federal oversight, positioning it as a more comprehensive financial institution while maintaining its core cryptocurrency exchange operations and identity.