Coinbase has announced that it has secured a conditional bank charter from the Office of the Comptroller of the Currency (OCC). This development indicates that Coinbase is the latest cryptocurrency firm to receive such approval from the banking regulator. Despite obtaining this charter, the company clarified that it is not launching a traditional bank. This conditional approval signifies a regulatory milestone for Coinbase in its operations within the financial landscape, according to reports on Thursday.

Coinbase has announced that it has secured a conditional bank charter from the Office of the Comptroller of the Currency (OCC). This development indicates that Coinbase is the latest cryptocurrency firm to receive such approval from the banking regulator. Despite obtaining this charter, the company clarified that it is not launching a traditional bank. This conditional approval signifies a regulatory milestone for Coinbase in its operations within the financial landscape, according to reports on Thursday.