Coinbase seeks national trust charter to expand payment services

Core Viewpoint - Coinbase plans to apply for a national trust company charter to expand its payment and related services while clarifying that it does not intend to become a bank [1][2]. Group 1: Company Strategy - The national trust charter is expected to streamline oversight for new offerings and facilitate innovation in integrating digital assets into traditional finance [2]. - Coinbase launched a new platform called Coinbase Payments in June 2025, designed to support stablecoin transactions for online marketplaces [2][3]. - The platform aims to provide small-to-medium sized businesses with alternatives to traditional card payment fees, with Shopify already integrating Coinbase Payments [3]. Group 2: Partnerships and Collaborations - In July, JPMorgan Chase and Coinbase formed an alliance to enhance transaction capabilities for shared clients, allowing JPMorgan customers to link their bank accounts to Coinbase wallets [3][4]. - Other cryptocurrency firms, including Circle, Ripple Labs, and Paxos, have also submitted applications for national trust charters, indicating a trend in the industry [4].