Crypto Excination Coinbase applied to obtain a national confidence company charter with the Currency Observer Office (OCC), where it has joined an increasing number of US -based encryption companies that follow the same license.
Coinbase said in a statement on Friday: “Coinbase takes an important step in expanding the capabilities of our business and organizational supervision beyond the current framework, which paves the way for innovation and growth in building a modern financial system supported by digital assets,” Coinbase said in a statement on Friday.
Coinbase continues a “bridge” license with Trafi
According to Coinbase, follow -up of the license is part of its strategy “to fill the gap between the encryption economy and the traditional financial system.” However, it has no interest in changing the basic focus of its operations:
“Coinbase has no intention to become a bank. It is our firm belief that clear rules, our organizations and our customers allow Coinbase to innovate with confidence while ensuring supervision and proper security.”
Luke Yongbud, a former Coinbase who led the creation of Coinbase Stokeing, explained on Friday that the license would enable Coinbase to “provide the built -in foundation on the slope, outside the slope, and no longer had to use partner banks on platforms, outside homes.”
Coinbase said that the approval of the license will allow exchange to expand beyond the nursery services, and to open the door for payments and other related offers under clearer organizational guidelines.
However, political commentator Brendan Pedersen added, “Theoretical confidence has more restrictions than other types of banks when it comes to commercial activities, but discrimination is unclear over the years.”
Improving the Coinbase Exec Notes application
Youngbud said that the Coinbase application had improved significantly since it stopped working on the stock exchange in 2022. “When I worked there in 2022, before leaving it, it was not great. The features, such as Coinbase, were not working well.”
“You can really say that they have rented some higher engineering talents,” said Yongbud.
Related to: Artificial intelligence agents need to be encrypted to work on financial markets: Coinbase Exec
It comes at a time when many other encryption companies have recently advanced to obtain the National TRST Charter.
On July 1, the Stablecoin I applied to the National Bank to establish confidence in the United States. Two days later, Ripple Labs applied for the same license.
“A new standard (unique!) For confidence in the Stablecoin market,” said Brad Garlinghyus, CEO of Ripple Labs.
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