Paxos on Verge of Becoming Regulated Bank in US
Dec 10 2020 · 13:48 UTC by John K. Kumi · 3 min read
Photo: Depositphotos
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The NYDFS has always been a fan of innovation favoring the impact Paxos has made in the financial market within the country.
A stablecoin issuer and crypto services provider Paxos is on the verge of becoming a fully operational regulated bank in the US after applying to the Office of the Comptroller of the Currency (OCC). If this application is approved, Paxos would operate as a full trust bank and be mandated to hold cryptocurrencies.