Coinbase ($COIN) trust company, minimum capital $60 million, approximately 80.2 billion won

The OCC granted conditional final approval on Nov. 6 to Coinbase National Trust Company, with operations permitted from Nov. 9, requiring the federal trust entity to hold at least $60 million in Tier 1 capital through its first three years. The charter lets Coinbase ($COIN) conduct crypto custody and related fiduciary activities under federal supervision, and any material change to its business plan or operations requires prior notice and a written non-objection from the OCC. The approval formalizes Coinbase's push into regulated custody at the federal level, a segment where trust charters can carry operational and compliance obligations beyond state licenses. What to watch next is whether Coinbase injects the required capital and scales custody clients under the charter, and how the OCC's non-objection process shapes any expansion of the trust company's activities.