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Paxos Crypto Makes Bold Move: Will the OCC Greenlight Its Bank License or Slam the Door?
Paxos Crypto Makes Bold Move: Will the OCC Greenlight Its Bank License or Slam the Door?
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Paxos just tossed its hat into the regulatory ring—filing for a national bank charter. The crypto custodian’s gamble? Either the OCC plays ball… or Wall Street’s old guard gets another excuse to scoff.
Behind the scenes: This isn’t just paperwork. Approval would cement crypto’s foothold in traditional finance, while rejection fuels the 'wild west' narrative. The OCC’s decision could ripple across stablecoins, custody, and even DeFi bridges.
Watch the dominoes: If Paxos wins, expect a stampede of copycats. Lose? Cue the 'told-you-so' chorus from bankers who still think blockchain is a spreadsheet upgrade. Either way—the system’s getting a stress test it didn’t schedule.
Paxos Trust Company, the issuer behind USDP stablecoin, has once again applied to convert its New York limited-purpose trust charter into a US national trust bank charter. A formal OCC filing has been made for the application. The team shared the Read More
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