Coinbase applies for federal trust banking license, says 'we have no ambitions to be a bank'

Coinbase Global (COIN) has applied for a national trust bank license, joining the throng of other crypto firms seeking a credential that has some in the banking industry skittish. The company is seeking this novel banking charter from the Office of the Comptroller of the Currency (OCC) to grow its institutional custody business, according to Coinbase vice president and head of institutional product Greg Tusar. "We're excited about getting a national trust charter for our custody business and think that d ...