Paxos Pursues National Bank Charter, Joining Stablecoin Giants Under Federal Scrutiny
Paxos, a prominent stablecoin issuer, has officially applied for a national bank trust charter with the Office of the Comptroller of the Currency (OCC). This strategic move places Paxos under federal supervision, aligning it with other major stablecoin players like Circle and Ripple who have also pursued similar federal charters.