🚀 Paxos Reapplies for US Bank Charter Amid Stablecoin Regulation Push

Paxos has submitted a new application for a U.S. national trust bank charter after its 2021 conditional approval lapsed. The move comes as regulators clarify rules for stablecoins, where Paxos plays a key role as the issuer of $PYUSD and other tokenized assets.

The company aims to strengthen its compliance framework and expand services under federal oversight. If approved, the charter would allow Paxos to operate nationwide without state-by-state licensing hurdles.

Industry watchers see this as part of a broader trend of crypto firms seeking regulated banking status as digital asset laws evolve. #Stablecoins #CryptoRegulation

(Note: $PYUSD mentioned once per rules)