Coinbase Wins Federal Approval to Operate as a National Trust Bank
@Coinbase has been granted a federal charter by US banking regulators to become a national trust bank.
This means the exchange will have direct access to central bank clearing systems, reducing its dependence on other banks. It will also be able to process fiat settlements, institutional custody, and fiduciary trusts.
Getting the trust bank charter does not mean that Coinbase has obtained a commercial banking license because its scope will be limited to custody and trust functions only.