According to CoinMeta, bank trust charters allow crypto companies to become federally regulated banks without having to become traditional consumer banks. Under the framework of the Federal Reserve, the operations of these banks can be limited to those of trust companies and related activities, including fiduciary services, custody, and other functions related to customer assets. This combination is attractive to crypto companies because custody, stablecoin reserves, and institutional asset services are closer to the core of their business. Traditional commercial banks typically accept deposits and issue loans, whereas national trust banks generally do not provide regular loans or accept deposits and therefore usually do not carry deposit insurance. The business of trust banks revolves more around custody, fiduciary services, asset management, and fees. Obtaining a trust charter does not mean that customers can open a federally insured checking account there. The federal trust bank plans, which are Coinbase, will focus on digital asset custody and are mainly aimed at institutional clients. Trust banks can play a role between asset owners, stablecoin issuers, investment companies, and blockchain networks, while performing custody and fiduciary functions under federal regulation.