Paxos renews push for US bank license as stablecoin rules take shape

Paxos seeks national trust bank charter in US

Paxos Trust Company, known for its role in supporting PayPal’s stablecoin, has revealed plans to apply for a national trust bank charter in the US. This initiative reflects a broader movement among cryptocurrency companies seeking to integrate more closely with established financial systems. If the US Office of the Comptroller of the Currency (OCC) grants the charter, Paxos would be authorised to manage and hold customer assets, enabling quicker…

Paxos Applies for a National Bank Charter License

Paxos Applies for a National Bank Charter License Stablecoin issuer Paxos has applied for a national charter license.

Paxos Seeks US National Trust Charter from OCC

The move would place Paxos under direct U.S. federal oversight, replacing its current New York Department of Financial Services (NYDFS) authorisation, and reflects what the company described as its “consistent commitment to maintain the highest regulatory standards of any blockchain infrastructure and tokenisation platform globally.” Paxos has operated under NYDFS oversight since 2015, when it became the first blockchain and tokenisation company…

Paxos Joins Circle, Ripple in Applying for OCC Trust Charter

Paxos seeks OCC national trust charter, joining Ripple and Circle in federal oversight bid. OCC charter application aims to enhance Paxos’s regulatory framework and asset management. This is Paxos’s second application to the Charter after its 2020 approval lapsed in 2023. Paxos, a leader in blockchain infrastructure and tokenization, has filed for a national trust charter with the U.S. Office of the Comptroller of the Currency (OCC). The decisio…