Coinbase Seeks License To Expand Payments And Custody, Aims To Bridge Crypto-TradFi Gap
US crypto exchange Coinbase has applied for a license to offer broader payments and custody services, aiming to bridge the gap between crypto and traditional finance. The exchange aims for National Trust Company Charter status, which would give it more authority to hold customer assets, process payments, and offer some financial services. ”The charter would continue to open up opportunities for Coinbase to launch new products beyond custody, including payments and related services, with the confidence of regulatory clarity,” it said in a statement. Coinbase clarified that “it has no intention of becoming a bank,” saying that the license is part of its broader strategy “to bridge the gap between the crypto economy and traditional financial system.” Coinbase shares climbed 2% on the news, according to Google Finance. Coinbase share price (Source: Google Finance) Is Coinbase Hedging Against ‘Debanking?’ The move could also b...
