Coinbase Says It Wins Conditional US Approval for Trust Charter

Coinbase Global Inc., the largest US cryptocurrency exchange, said it has won conditional approval from banking regulators for a national trust company charter, a step that could pave the way for it to expand into new businesses.

Full approval from the Office of the Comptroller of the Currency would allow Coinbase to operate as a crypto custodian on a federal basis, making it easier for large institutions to trust it with assets. It could also open a path to new activities such as issuing stablecoins and tokenized securities, said Greg Tusar, vice president of product management.

“The ability ...