Paxos has applied for a national trust charter with the Office of the Comptroller of Currency (OCC), aiming to expand its operations beyond its existing state charter. This move places Paxos alongside other major players like Circle and Ripple, who are also pursuing similar national bank charters. Once approved, Paxos anticipates enhanced regulatory oversight and the ability to offer a broader range of services to its clients. A spokesperson for Paxos expressed that a national charter would unlock new growth opportunities while adhering to higher regulatory standards. This application follows recent positive developments in the regulatory landscape for stablecoins, indicating a new era of clarity and compliance in the sector. Paxos, a prominent stablecoin issuer supporting major companies like Mastercard, is keen on leveraging the regulatory framework to better support its customers' needs amid increasing interest in stablecoin legislation at a federal level.

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