Coinbase has applied for a National Trust Company Charter with the Office of the Comptroller of the Currency (OCC) to expand its services beyond custody into payments and related areas. The cryptocurrency exchange clarified that it does not plan to become a bank but aims to achieve regulatory clarity to facilitate institutional adoption. This move aligns with similar applications from other major crypto firms like Circle, Paxos, and Ripple, indicating a growing trend in the industry towards obtaining federal oversight for trust and custody operations. These efforts reflect the sector's push for clearer regulatory frameworks to support broader service offerings.