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Coinbase Applies for Federal Trust Charter, Says Not Aiming to Be a Bank

Coinbase (COIN) said on Friday it has applied for a national trust charter with the U.S. Office of the Comptroller of the Currency (OCC), a move that would put the firm under federal regulatory oversight if approved. The charter would allow Coinbase to build on its existing custody business by offering services such as payments and settlement, without seeking a charter as a full-service bank. "Coinbase has no intention of becoming a bank," Greg Tusar, vice president of institutional product at Coinbase ...