Coinbase has applied for a national trust charter with the OCC, aiming for federal regulatory oversight. The move would allow Coinbase to expand its services, including payments and settlements, without becoming a full-service bank. The company’s existing custody business, licensed under New York state’s BitLicense, could see more flexibility with a federal trust charter. Other crypto companies like Circle, Ripple, and Paxos are also seeking federal supervision.

Read more at Yahoo Finance: Coinbase Applies for Federal Trust Charter, Says Not Aiming to Be a Bank