Paxos Gets Preliminary Approval For US Bank Charter

Paxos has initial approval to establish its own “de novo” or new national trust bank after being approved by the Office of the Comptroller of the Currency (OCC), according to a company blog post. Paxos will be the first cryptocurrency-native company to attain that status. Other digital asset companies have received the green light to convert to a national bank, but Paxos will be the first to keep its old regulatory structure, with the company retaining its New York Department of Financial
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