Coinbase just got a conditional green light from U.S. regulators for a national trust charter. That’s a big step toward becoming a federally regulated crypto custodian. This could make it easier for big institutions to trust Coinbase with their digital assets.

The approval isn’t final yet. Coinbase still needs to meet strict requirements like beefing up compliance, hiring key staff, and passing regulatory reviews. Until then, it can’t officially operate under the charter.

If it goes through, Coinbase can hold crypto for clients but won’t be able to take deposits or issue loans. This fits its push to move beyond volatile trading fees and into steady revenue from custody and related services.

For the market, this signals growing institutional demand for regulated crypto custody. It could also boost confidence in $COIN as a long-term player in the space.

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