Coinbase applies to the Office of the Comptroller of the Currency (OCC) for a national trust company charter

ChainCatcher news, according to The Block, cryptocurrency exchange Coinbase (stock code: COIN) stated in a statement that it is applying for a national trust company license from the Office of the Comptroller of the Currency (OCC).

Greg Tusar, Vice President of Institutional Products at Coinbase, stated in the announcement: "The OCC license will simplify the regulation of new products and promote ongoing innovation, integrating digital assets into traditional finance. We are not the first cryptocurrency company to apply for a federal license, nor will we be the last." Tusar noted that Coinbase does not intend to become a bank. So far, Paxos, BitGo, Ripple, and Circle have also applied to the OCC for banking licenses in response to the Trump administration's friendly regulatory environment towards cryptocurrencies.