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Stablecoin issuer and crypto services firm Paxos has filed to become a federally-regulated bank in the U.S. The bank would operate out of New York (where Paxos is already located), according to the filing. The company, which already has a New York trust charter and a slew of licenses, currently
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Per a July 22 announcement shared with Cryptox, the Office of the Comptroller of the Currency (OCC) is granting permission to federally chartered banks to custody cryptocurrency.The future of banking with crypto on boardThis issue has seen much skepticism, given that crypto wallets do not resemble the custody requirements of
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