TechFlow 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.”
