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Key Takeaways
- OCC lists the charter effective from November 6
- CCTC’s custody business migrates over three years
- IBIT’s prospectus still names CCTC as custodian
- Crypto in custody carries no FDIC insurance
Coinbase announced final OCC approval on November 9, and the regulator’s application register records Coinbase National Trust Company as effective from November 6.
Rick Schonberg, Coinbase’s head of prime trading and custody, said in the company’s release that the approval “allows us to expand our custody capabilities within a consistent federal regulatory framework,” Ameri...
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