Coinbase Global COIN-Q has received conditional approval from U.S. banking regulators for a national trust company charter, it said on Thursday, a move that could boost the top U.S. cryptocurrency exchange’s appeal among large institutional investors.

The U.S. has been taking a more crypto-friendly approach since the re-election of President Donald Trump, with regulators easing prior curbs and dialing back enforcement actions.

Full approval from the Office of the Comptroller of the Currency would let Coinbase operate as a…