Coinbase approved to operate federal chartered national trust bank

Odaily Planet Daily News: Bitcoin News posted on X platform stating that Coinbase has received final approval from the Office of the Comptroller of the Currency (OCC) to operate as a federal chartered national trust bank, with its business primarily focused on institutional digital asset custody. The institution is not permitted to accept retail deposits, issue stablecoins, or provide traditional loans. Coinbase plans to gradually transfer its existing custody operations to this federal entity over the next three years.