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Deep Tide TechFlow News, on April 2nd, Coinbase announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Coinbase National Trust Company, officially obtaining a federal trust license.
This license is designated for custody and market infrastructure services. Coinbase explicitly stated that it will not transform into a commercial bank, will not accept retail deposits, and will not engage in certain reserve bank activities. The OCC federal trust license will provide a unified federal regulatory framework for its custody services and lay the foundation for new products such as payments and related services.