Paxos, the company behind PayPal’s stablecoin, has applied for a federal trust charter to enhance its regulatory standing.
By shifting from New York state oversight to the OCC, Paxos seeks to strengthen trust in its stablecoin offerings, including PayPal USD and Pax Dollar.
“Federal regulation aligns with our high standards for safety,” said CEO Charles Cascarilla.
The move mirrors recent applications by Ripple and Circle, reflecting a broader industry shift toward federal banking licenses amid evolving crypto policies.
