OCC

CEO Mike Belshe’s firm, now operating as a federally chartered OCC trust bank, powers custody for major Bitcoin ETFs, stablecoins like World Liberty Financial’s USD1, and SoFiUSD, highlighting institutional adoption of regulated crypto infrastructure.

Coinbase has received conditional approval from the OCC to establish Coinbase National Trust Company, according to a company statement. 

The U.S. Department of the Treasury formally began implementing the Guiding and Establishing National Innovation for the GENIUS Act.

EDX Markets, an exchange backed by Citadel Securities, applied for a national trust bank charter with the OCC.

The OCC has conditionally approved five crypto firms — Ripple, Circle, Fidelity Digital Assets, BitGo, and Paxos — to become national trust banks, advancing the integration of digital assets into U.S. federal banking.

The Office of the Comptroller of the Currency (OCC) clarified today that national banks may conduct crypto-related “riskless principal” transactions.

The OCC has clarified that U.S. national banks may hold crypto on their balance sheets to pay blockchain network fees and test crypto platforms.

The Federal Reserve, OCC, and FDIC warn banks that safekeeping bitcoin and other crypto-assets demands strong cybersecurity, operational expertise, and full legal compliance.