Paxos Applies for U.S. Trust Bank License, Aiming for Nationwide Expansion

Paxos, a prominent player in the stablecoin space, has announced its application for a U.S. trust bank license. This significant step could pave the way for broader regulatory coverage and expanded services across the country. While the exact implications on Paxos-issued assets remain unclear, this move suggests a commitment to providing more robust financial services through a national network.