Cryptocurrency exchange Coinbase has officially applied for a national trust license from the Office of the Comptroller of the Currency (OCC), according to a statement shared on Friday.
The exchange platform has stated that the main objective is to "streamline oversight for new offerings and enable continued innovation to integrate digital assets into traditional finance" at the intersection of cryptocurrencies and traditional finance.
Greg Tusar, vice president of Institutional Products at Coinbase, emphasized that the company "has no intention of becoming a bank," but rather seeks the regulatory clarity that a federal license offers to operate under defined rules and build trust.
This move places Coinbase alongside other crypto pioneers, such as Paxos and Circle, in the quest for a regulated national framework.