Coinbase Global, Inc. (COIN) has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, formally applied for in October 2025. This marks a significant advancement for Coinbase and the digital asset landscape, allowing the company to offer custody and financial services across the U.S. while creating new revenue streams. Co-CEO Greg Tusar clarified that Coinbase will not act as a commercial bank and will not take retail deposits.
Despite this approval, shares of Coinbase have declined by 21.7% year-to-date, underperforming the industry, and the company’s price-to-earnings ratio stands at 53.66, far above the industry average of 8.99. Additionally, the Zacks Consensus Estimates for COIN’s first and second quarters in 2026 indicate a lack of movement, with projected revenues and earnings showing year-over-year decreases for 2026 but an anticipated increase for 2027.
