Stop the presses! Call your accountant! Paxos-the folks swimming in blockchain and token soup-just asked the U.S. Office of the Comptroller of the Currency (OCC) to take their New York trust license and give it that dazzling national sparkle. Yes, they want to level up from NYDFS’s cozy embrace to the flashy world of federal regulators. Big ambitions, or maybe they’re just collecting charters like some people collect Pez dispensers.
Apparently, this is all about “expanding their compliance framework.” Translation: more paperwork, more meetings, and more acronyms than a bowl of alphabet soup. 🍜
“Today, we announced that we have filed an application to convert our NYDFS trust charter into a national trust charter under the Office of the Comptroller of the Currency.”
– Paxos (@Paxos) August 11, 2025
So now, Paxos is going for the grand tour: U.S. OCC regulation, plus their usual lineup-Finland’s FIN-FSA, Singapore’s MAS, Abu Dhabi’s FSRA. Honestly, if Paxos collected any more agencies, they’d have to charter a party bus just to get through security. 🚎
This move apparently lets them roll out blockchain infrastructure everywhere. You get a blockchain, you get a blockchain-everybody gets a blockchain! 🎉
“For more than a decade, Paxos has been the gold standard of blockchain regulation,” says Charles Cascarilla, the CEO. Gold standard, silver tongue-that’s how you pitch it. “OCC supervision will further cement our dedication to providing the most secure, most reliable infrastructure for consumers and businesses.” Sure, and maybe one day they’ll throw in a complimentary toaster with every stablecoin. 🥳
If they get this national trust charter, Paxos can hold assets, take deposits, and hand out loans (all perfectly legal, unless your grandmother’s cookie jar is involved). So next time someone asks, “Who do you trust?” You can answer, “Paxos, apparently.”
Those stablecoins-PayPal USD (PYUSD) and Pax Dollar (USDP)-allegedly backed by actual dollars, Treasuries, and other stuff you might find in a government safe. Redeemable 1:1, unless you try to redeem for a rare Pokemon card, in which case you’re on your own.
This is their second national bank pitch. First time was in 2020; got a ‘conditional’ yes in 2021… and the excitement fizzled in 2023. Not exactly a blockbuster sequel, but Paxos keeps rolling.
Born in 2015, got the NY trust badge, and in 2018 dropped the first regulated stablecoin. Transparency, compliance, blockchain parties-if there’s a regulatory committee, Paxos is probably bringing donuts.
Circle and Ripple are in the trust-worthy chase too, but only Anchorage Digital has actually bagged one of these national charters so far. #FOMO
Paxos is determined to go big and build globally. World domination with a side of security and compliance. Next up: underwater blockchain charters? 🚀
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2025-08-11 23:23