The OCC gave final approval on November 6 for the creation of Coinbase National Trust Company, a federal trust company focused on safeguarding institutional digital assets. The entity will neither accept public deposits nor lend out the funds it holds, and its scope excludes fractional reserves. Coinbase has operated in this market since 2018 through a New York-regulated subsidiary, but the new federal structure brings those activities under the OCC’s single oversight. Circle and Ripple received comparable approvals this year, while Block, Payward, and a company linked to World Liberty Financial are awaiting similar decisions. These authorizations are being challenged by Senator Elizabeth Warren and the community banking association, which has filed a lawsuit against the OCC.
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