Stablecoin Issuer Paxos Follows Circle and Ripple in Applying for US Banking License
Stablecoin and tokenization firm Paxos has filed an application with the Office of the Comptroller of Currency (OCC) for a national trust charter, the firm announced on Monday. If approved, the application will upgrade the firm’s existing New York Department of Financial Services (NYDFS) charter, allowing it to conduct business across the United States. “The