Takeaways by Bloomberg AI
Coinbase Global Inc., the largest US crypto exchange, said a key regulator has fully signed off on its request to become a nationally chartered trust bank, the latest example of firms in the digital-asset space entering the world of traditional finance.
The license, approved last week by the Office of the Comptroller of the Currency, will help Coinbase grow its custody business and move deeper into areas such as payments, according to its application. It could also expand the company’s stablecoin business by allowing Coinbase to issue its own stablecoins and help other crypto firms with issuing and managing those tokens, according to people familiar with the matter.