The post Paxos Seeks OCC Charter to Become National Trust Bank appeared on BitcoinEthereumNews.com.

Cryptocurrency infrastructure firm Paxos has filed an application with the U.S. Office of the Comptroller of the Currency for a national trust bank charter, the company said Monday. Approval would move Paxos from its existing New York Department of Financial Services trust charter to federal supervision, allowing it to offer custodial and payment services across all 50 states under a single regulatory regime. Paxos issues PayPal’s dollar-pegged PYUSD stablecoin and operates blockchain-based settlement and tokenization services. Chief Executive Officer Charles Cascarilla said federal oversight would reinforce the firm’s “highest standards of safety and transparency” as demand for regulated stablecoins grows. The filing places Paxos alongside rivals Circle and Ripple, which submitted similar applications last month amid intensifying competition and fresh regulatory clarity following passage of the GENIUS Act on stablecoins. Paxos previously received conditional OCC approval in 2021, but that authorization lapsed in 2023. The company’s push for a national charter comes months after resolving compliance issues with New York regulators and reflects a broader industry effort to integrate crypto payment rails into the traditional banking system. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz. Source: https://thedefiant.io/news/regulation/paxos-seeks-occ-charter-to-national-trust-bank-546546d9

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Filed under: News - @ August 11, 2025 9:27 pm