🚨 Big move in the crypto space!

📢 Paxos has officially applied to convert its NYDFS trust charter into a national trust charter with the Office of the Comptroller of the Currency (OCC), joining Ripple and Circle in the race for federal oversight.

🌐 This step marks a major commitment to the highest regulatory standards and transparency in blockchain infrastructure and tokenization platforms. Paxos aims to reinforce trust by ensuring their issued assets remain backed 1:1 by bankruptcy-remote reserves in USD, Treasuries, and cash equivalents.

⚖️ Despite some pushback from banking associations, this shift to federal oversight signals growing maturity and confidence in the crypto industry. Paxos also continues to maintain strong regulatory compliance globally—in Europe, Singapore, and Abu Dhabi.

📊 The transition promises uninterrupted service and further assurance for customers as Paxos scales up its mission to build a safer, more transparent crypto ecosystem.

#Crypto #Blockchain #Paxos #Regulation #Finance

https://coingape.com/paxos-joins-ripple-and-circle-to-apply-for-a-national-banking-license/?utm_source=bnb&utm_medium=cryptohub