ICBA Opposes OCC's Conditional Nod For Coinbase National Trust Bank Charter

The Office of the Comptroller of the Currency (OCC) granted Coinbase (COIN) a conditional approval for a national trust bank charter, a move that would place the crypto exchange among a small group of five digital-asset firms — including Ripple, Circle (CRCL) — that have received similar tentative sign-offs from the agency. If the charter is finalized, Coinbase would be able to expand beyond custody services to offer payment products and other infrastructure under federal supervision, Coinbase’s chief legal officer, Paul Grewal, told CNBC. Coinbase Eyes Broader US Payments Suite During his interview, Grewal said that the approval opens the door for Coinbase to develop a broader range of services in the US, particularly in the area of payments: Over the long haul we will be able to explore, with the OCC, offering not just custody products but also other infrastructure products, particularly around payments, that we think will expand and extend crypto payments in all sorts of new and int