Coinbase secured final approval from the OCC last week to operate a national trust bank, following conditional approval granted in April 2026. The authorization will allow the company to provide crypto custody services and develop payment-related operations within a federal regulatory framework. It will also support Coinbase’s stablecoin operations, including issuing tokens and managing stablecoins for other companies. However, Coinbase will not be able to accept deposits from ordinary customers or make traditional commercial loans. Shares were trading at $134.76, down 1.51%, as traditional banking groups challenge regulatory approvals for crypto companies. In the third quarter of 2026, Coinbase reported $719 million in net income and $333 million in adjusted EBITDA, up 60% quarter over quarter.
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