Coinbase, a major U.S. crypto exchange, is exploring a federal bank charter to offer traditional banking services like deposits and loans, signaling a trend of crypto firms integrating with traditional finance amid evolving U.S. regulations.
This move follows the U.S. Office of the Comptroller of the Currency’s 2021 conditional approval of a bank charter for Paxos, reflecting a softening regulatory stance on crypto and stablecoins in the broader financial system.
The announcement aligns with Coinbase’s recent equity stake in Circle, the company behind USDC, which has expanded to six new blockchains in 2023, highlighting growing ties between crypto and traditional financial infrastructures.
