# Coinbase Gets Final OCC Approval for Custody Business

> Coinbase's new national trust bank charter boosts institutional custody but delays earnings.
- Title: Coinbase Gets Final OCC Approval for Custody Business
- Summary: Coinbase's new national trust bank charter boosts institutional custody but delays earnings.
- Keywords: coinbase, occ, national trust bank, institutional custody, crypto custody, pnc bank, usdc payments, stablecoin, Startup Fortune
- Source: Startup Fortune — https://startupfortune.com/coinbase-gets-final-occ-approval-to-run-its-custody-business-as-a-national-trust-bank
- Published: 2026-11-09T21:34:12+00:00
- Read time: 1 min
- Topics: coinbase, occ, national trust bank, institutional custody, crypto custody, pnc bank, usdc payments, stablecoin, startups, business
## Final OCC Approval
Coinbase received final approval from the Office of the Comptroller of the Currency for its national trust bank charter on November 9.

> Coinbase announced on Monday, November 9 that the Office of the Comptroller of the Currency has granted final approval for Coinbase National Trust Company.
## Charter Details
The charter takes effect November 6, allows institutional custody accounts, and prohibits retail deposits, traditional lending, and stablecoin issuance.

> The charter doesn't allow ordinary retail deposits, traditional lending or fractional reserve banking, and crypto.news notes it also rules out issuing stablecoins directly.
## Capital Requirements
Coinbase must hold $60 million in Tier 1 capital and maintain liquid assets covering 180 days of expenses for the first three years.

> The entity must hold at least $60 million in Tier 1 capital and keep liquid assets covering 180 days of operating expenses during its first three years.
## Institutional Transition
Coinbase will move institutional custody to the new federal entity over three years while keeping trading through other affiliates.

> Over a three-year period it will move that business into the new federal entity, per Cointelegraph.
## PNC Partnership
PNC Bank is piloting USDC payments for corporate clients with automatic conversion to US dollars through Coinbase.

> PNC Bank is piloting USDC payments for eligible corporate and institutional clients, with incoming USDC converting automatically to US dollars.
## Market Reaction
COIN stock dropped 40% this year and 57% over twelve months after the approval, signaling investors see it as compliance, not revenue.

> Bitcoin.com put COIN at $136.76 on November 9, down about 40% this year and 57% over twelve months.
## Key takeaway

Coinbase received final OCC approval to run its custody business as a national trust bank, enabling segregated accounts for institutional clients without retail deposits.