Cryptocurrency exchange Coinbase has revealed plans to apply for a national trust company charter from the Office of the Comptroller of the Currency.  

The development was confirmed by Coinbase vice-president of institutional product, Greg Tusar in a blog post, which was published on the company’s website.  

The charter is intended to facilitate the company’s expansion into payment and related services, while maintaining that it does not plan to become a bank. 

Tusar said: “Coinbase has no intention of becoming a bank.” 

“An OCC charter will streamline oversight for new offerings and enable continued innovation to integrate digital assets into traditional finance.” 

The approval of the charter is expected to broaden Coinbase’s service offerings beyond custody solutions, the blog post noted.  

In June 2025, Coinbase launched a new platform called Coinbase Payments, specifically designed to support the use of stablecoins for online transactions.  

This platform caters to online marketplaces such as Shopify and eBay, aiming to provide small-to-medium sized businesses with alternatives to traditional card payment fees. 

Shopify has already integrated Coinbase Payments, following a partnership with Coinbase and Stripe.  

Additionally, in July, JPMorgan Chase and Coinbase formed an alliance, offering enhanced transaction capabilities to shared clients.  

This partnership enables JPMorgan customers to link their bank accounts to their Coinbase wallets using the bank’s API. 

Cryptocurrency firms such as Circle, Ripple Labs, and Paxos have also submitted applications for national trust charters, as reported by Bloomberg.