• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Paxos

Paxos Applies To Establish National Trust Bank In The United States–Reuters

Ronaldo Marquez
by Ronaldo Marquez
2 weeks ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

New York-based stablecoin developer Paxos Trust Company, has announced its intention to apply for a national trust bank charter in the United States, as reported by Reuters on Monday. 

Paxos Joins Ripple And Circle In Pursuit

If granted by the US Office of the Comptroller of the Currency (OCC), the charter would empower Paxos to manage and hold customer assets while facilitating faster payment settlements. 

However, the Reuters report notes that unlike traditional banks, the stablecoin development company would not be authorized to accept cash deposits or extend loans. 

This transition would convert Paxos’ existing limited purpose trust charter from the New York Department of Financial Services into a federal charter under the OCC.

Related Reading: Ripple’s Unscheduled $3.2 Billion XRP Unlock Shocks Community, What’s Going On?

In an exclusive interview with Reuters, a source familiar with the situation said that this increased scrutiny could carry significant weight in the evolving landscape of digital finance.

Paxos previously attempted to secure a national trust bank charter in 2020, receiving preliminary conditional approval from the OCC in 2021 alongside firms such as Anchorage Digital and Protego Trust Bank. However, the application ultimately stalled and expired in 2023. 

Currently, Anchorage Digital stands as the only digital asset company with a national trust bank charter, while other firms, including stablecoin issuer Circle (CRCL) and blockchain payments company Ripple, have also submitted applications for national trust bank charters in recent weeks.

$48 Million Settlement Over Binance Oversight Issues

Paxos plays a pivotal role in the cryptocurrency ecosystem by providing blockchain and stablecoin infrastructure. The company issues several stablecoins, including PayPal’s PYUSD, which boasts a market capitalization exceeding $1 billion. 

The recent legislative advancements in the US have further propelled the stablecoin narrative. Last month, President Donald Trump signed into law the GENIUS Act, establishing a regulatory framework for stablecoins. 

Such a significant milestone has prompted experts to believe it could pave the way for these dollar-pegged cryptocurrencies to become a standard method for transactions and money transfers. 

Related Reading: Are Ethereum Treasury Companies A Threat To Bitcoin? Michael Saylor Reveals His Stance

This regulatory progress follows a concerted lobbying effort by the crypto industry, which reportedly contributed over $245 million to pro-crypto candidates during the previous election cycle.

Paxos has faced challenges in its partnerships as well. Earlier this year, New York regulators ordered the company to cease issuing Binance’s stablecoin, BUSD, leading to the termination of its partnership with the crypto exchange.

Additionally, Paxos recently settled for $48.5 million over charges related to inadequate oversight of illegal activities associated with Binance, following a guilty plea from Binance’s former CEO Changpeng Zhao (CZ), concerning violations of US anti-money laundering laws.

Paxos
The daily chart shows the total crypto market cap valuation surge toward $3.94 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Litecoin vs XRP news

Litecoin Slams XRP As ‘Rotten Egg Token’ In Viral X Post

1 hour ago
New Bitcoin Whale Born with a $163M Purchase – Why $HYPER Could Be the Next Big Winner

New Bitcoin Whale Born with a $163M Purchase – Why $HYPER Could Be the Next Big Winner

16 hours ago
Analyst predicts Bitcoin to $10m Bitcoin Hyper gains

Bitcoin Adviser’s Luke Broyles Predicts a $10M Bitcoin, Hyping Up Bitcoin Hyper’s $13M Presale

19 hours ago
Hong Kong

Hong Kong University Explores Accepting Bitcoin For Fees Payment

19 hours ago
Best Crypto to Buy Now as ETH Spot ETFs Record $13.7B in Inflows

Best Crypto to Buy Now as ETH Spot ETFs Record $13.7B in Inflows

1 day ago
Investors Watch $SNORT as First UK Solana Treasury Is Announced

Investors Watch $SNORT as First UK Solana Treasury Is Announced

1 day ago

Premium Sponsors

Press Releases

  • Cloud Mining

    Can Cloud Mining Earn You $100,000 a Month? The Most...

    14 hours ago
  • ETNCrypto

    Win $100 Free Bonus: ETNCrypto Cloud Mining Launches Daily...

    15 hours ago
  • Ripple ecosystem expands: Gemini launches XRP credit card...

    15 hours ago
  • Trump to Launch WLFI Token on September 1st, DOT Miners...

    15 hours ago
  • XRP Investors Flock to BAY Miner, Earning Daily BTC Returns...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.