Coinbase wins final OCC approval – Why COIN stock remains under pressure

Coinbase secured final approval from the Office of the Comptroller of the Currency for a national trust bank charter, completing a process that began with conditional approval in April. The charter allows the exchange to operate a federally regulated trust company, strengthening its institutional custody and settlement offerings under national rather than state-level oversight. The approval comes as COIN stock remains under pressure despite the regulatory win, with shares still weighed down by broader crypto market weakness and fee compression concerns. The charter matters because it gives Coinbase a federal regulatory footing that could help it win custody mandates from large asset managers and pension funds. Investors will watch whether the trust bank designation translates into new institutional custody inflows and whether COIN can reverse its recent underperformance as crypto trading volumes recover.