Coinbase Seeks OCC Trust Charter to Grow Payments Business

Coinbase Global Inc., the largest US crypto exchange, is seeking a national trust company charter from the Office of the Comptroller of the Currency, the company said Friday.

Coinbase “has no intention of becoming a bank,” Greg Tusar, vice president of institutional product said in a blog post. Instead, if approved, the charter will allow Coinbase to expand in areas like payments and related services, he wrote.

Payments have become a big area of focus for Coinbase in the past year, as the use of stablecoins has taken off. President Donald Trump signed a law in July ...