Paxos Aims for Federal Oversight, Seeking to Become a Trusted Player in the Stablecoin Space

Paxos Trust Company, known for its work in stablecoin technology and infrastructure, has announced plans to seek federal trust bank status from the Office of the Comptroller of Currency (OCC). This move would elevate Paxos’ standing within the financial industry, granting them enhanced regulatory support and access to key banking services. While this designation won’t allow Paxos to accept deposits or offer loans, it will streamline settlement processes and strengthen their position as a credible player in digital asset integration with traditional finance.