According to Bitcoin News, Coinbase has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a federally chartered national trust bank, effective November 11, 2026. The institution will focus on digital asset custody for institutional clients. Coinbase is restricted from accepting retail deposits, issuing stablecoins, or providing traditional lending services. The company plans to transition its existing custodial operations to the federal entity over the next three years.

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