Search Results for "Paxos"
3 results for "Paxos"
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OCC Finalizes Rule Clarifying Digital Asset Custody for National Trust Banks
The OCC finalized a rule on February 27, 2026, clarifying permissible non-fiduciary activities for national trust banks, including digital asset custody. The rule does not impose moratoriums and supports ongoing fintech and crypto charter applications. This provides greater regulatory clarity for BaaS and embedded finance providers leveraging trust bank structures.
OCC Conditionally Approves Five National Trust Bank Charters for Digital Asset Firms
The OCC conditionally approved five national trust bank charter applications from major fintech and digital asset firms including Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. The approvals include two de novo charters and three state-to-national conversions. All five plan to focus on digital asset custody, with four also intending to issue stablecoins. This marks the first such approvals since 2021, signaling significant regulatory openness to crypto-native firms entering the banking system.
Paxos and BitPay File OCC National Trust Bank Charter Applications
Crypto firms Paxos and BitPay filed applications with the OCC for national trust bank charters on December 9 and December 8, 2020 respectively. The filings reflect growing fintech interest in obtaining federal bank charters to operate nationwide without state-by-state licensing. Approvals came later—Paxos received conditional approval in April 2021.