Paxos Seeks National Trust Bank Status to Expand Banking Services

Cryptocurrency infrastructure company Paxos Trust Company is making a push for access to traditional banking services by applying for a national trust bank charter with federal regulators. This move puts them on the same playing field as Circle and Ripple, who are also seeking expanded financial inclusion for digital asset firms. 🤝 The company’s application follows a previous attempt in 2020 that ultimately stalled.