ChainCatcher News: Fintech company Payoneer has submitted an application to the Office of the Comptroller of the Currency (OCC) in the United States to establish PAYO Digital Bank National Trust Bank, aimed at providing infrastructure to support stablecoins for global businesses. Over the past year, the use of stablecoins in global transactions has accelerated. This application is a key strategic move for Payoneer, with the goal of integrating stablecoin functionality into its global payment ecosystem, which connects nearly 2 million customers.
If approved, PAYO Digital Bank will enable customers to send and receive multiple stablecoins, issue the PAYO-USD stablecoin compliant with the GENIUS Act, manage stablecoin reserves, provide custody services, and support stablecoin-to-local currency conversions. Payoneer CEO John Caplan stated, “We believe stablecoins will play an important role in the future of global trade. Through PAYO Digital Bank, we aim to provide customers with a regulated way to leverage the latest payment innovations.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tether Launches Self-Custodial Wallet with Readable Addresses and No Gas Token Requirement
Tether has launched tether.wallet, a user-friendly self-custodial digital wallet that simplifies transactions with readable identifiers and eliminates the need for separate network tokens for gas fees. Initially supporting USDT, XAU₮, and Bitcoin, the wallet aims to enhance accessibility for users.
GateNews3m ago
Cardano Founder Says Crypto Parties Won’t Boost ADA Price – Here’s Why
Charles Hoskinson just dropped a reality check on the Cardano community. His message is simple. Crypto parties and big conference events are not going to move the ADA price. Instead, he wants to take the funds that would have been spent on flashy gatherings and put them into permanent global co
CaptainAltcoin6m ago
GMX Launches 24/7 Gold and Silver Trading on Arbitrum, Surpasses $10M Volume on Day One
GMX has launched 24/7 gold and silver perpetual markets on Arbitrum, achieving over $10 million in trading volume on day one. Utilizing Chainlink Data Streams for secure pricing, GMX aims to expand into real-world asset derivatives. This move highlights the trend of decentralizing commodity trading.
GateNews1h ago
X Product Chief Hints at Crypto Feature Launch as Platform Cleans Up Bot Activity
Nikita Bier from Elon Musk's X hinted at a possible crypto-related product launch amid Bitcoin's recovery, stimulating discussions on potential payment and trading features. X Money, a peer-to-peer service, is set for early public access but lacks confirmed crypto features.
GateNews2h ago
B.AI LLM Services Surpasses 1 Million Users, Scaling Privacy-First AI Infrastructure
B.AI LLM Services has exceeded 1 million users, showcasing its ability to manage high throughput with a privacy-first routing architecture, as it develops infrastructure for an autonomous agent economy.
GateNews4h ago
Ripple's Institutional DeFi Portal Enters Beta Testing for Stablecoin Payments
Ripple has introduced its Institutional DeFi Portal in beta, designed to facilitate financial institutions' access to decentralized finance and stablecoin payments. The portal addresses compliance and operational challenges, aiming to enhance stablecoin payment management.
GateNews4h ago
