According to unconfirmed reports, the cryptocurrency firm Paxos is seeking a U.S. trust bank license. This move could significantly broaden its operations and influence in the stablecoin market, though the company has not yet made an official announcement or filing.
This isn’t Paxos’s first attempt at a national charter; the firm received conditional approval from the Office of the Comptroller of the Currency (OCC) in 2021, but it expired in 2023 without being fully implemented.
Despite the regulatory uncertainty, Paxos’s stablecoin, Pax Dollar (USDP), remains stable. Its market cap is currently at $66.94 million, with a recent 24-hour trading volume increase of over 37% to $2.97 million. This stability highlights the coin’s consistent performance even as the company navigates potential regulatory changes.
August 2025, Cryptoniteuae
