Payoneer Applies for U.S. Trust Bank Charter to Launch Dollar-Backed Stablecoin PAYO-USD
7x24h News
Payoneer Applies for U.S. Trust Bank Charter to Launch Dollar-Backed Stablecoin PAYO-USD
According to PRNewswire, fintech company Payoneer (Nasdaq: PAYO) has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to charter PAYO Digital Bank, a national trust bank, aiming to provide stablecoin-enabled infrastructure for global businesses. Over the past year, stablecoin adoption in global business operations has accelerated significantly. This application represents a key strategic step for Payoneer, designed to integrate stablecoin capabilities into its global payments ecosystem—already connecting nearly 2 million customers. If approved, PAYO Digital Bank would enable customers to send and receive multiple stablecoins, issue the PAYO-USD stablecoin compliant with the GENIUS Act, manage stablecoin reserves, offer custody services, and support conversions between stablecoins and local currencies. Payoneer CEO John Caplan stated: “We believe stablecoins will play a vital role in the future of global trade. Through PAYO Digital Bank, we aim to provide customers with a regulated pathway to leverage the latest payment innovations.”
Navigating Web3 tides with focused insightsTechFlow News, February 25: According to a PRNewswire report, fintech company Payoneer (Nasdaq: PAYO) has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to establish PAYO Digital Bank, a national trust bank, aimed at providing stablecoin-supporting infrastructure for global businesses.
Over the past year, stablecoin adoption in global business operations has accelerated significantly. This application represents a critical step in Payoneer’s strategy to integrate stablecoin functionality into its global payments ecosystem—already connecting nearly two 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 conversions between stablecoins and local currencies.
Payoneer CEO John Caplan stated: “We believe stablecoins will play a vital role in the future of global trade. Through PAYO Digital Bank, we aim to offer customers a regulated pathway to leverage the latest payment innovations.”
