Coinbase Applies for US Banking License, Joining Growing Pack of Crypto Firms

Coinbase has applied for a National Trust Company Charter from the Office of the Comptroller of the Currency, a move that aligns with its desire for clearer regulatory frameworks in the cryptocurrency sector. The leading US cryptocurrency exchange aims to enhance its service offerings beyond custody to include payments and other related services if the charter is approved. While Coinbase explicitly stated it does not intend to become a bank, it believes regulatory clarity will foster innovation and broader institutional adoption of crypto products. This application follows similar moves by other firms in the digital asset space, indicating a growing trend among crypto companies seeking formal regulatory approval to operate more securely and transparently in the evolving market.

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