‍Payoneer Seeks US Bank Charter for PAYO-USD Stablecoin

Global financial services provider Payoneer has applied for a national trust banking charter with the OCC to establish PAYO Digital Bank. This move aims to integrate blockchain-based financial products, including a GENIUS Act-compliant stablecoin, PAYO-USD, into its payment ecosystem. The charter would allow Payoneer to manage reserves, offer custodial services, and facilitate fiat-stablecoin conversions.

Payoneer CEO John Caplan stated, "We believe stablecoins will play a meaningful role in the future of global trade." This follows similar federal banking applications from Crypto.com, Circle, Ripple, and others, signaling a growing trend of traditional fintech embracing regulated digital assets. This initiative is expected to reduce barriers for small and medium-sized businesses in global trade.

https://cryptovka.com/news/payoneer-files-for-us-bank-charter-to-launch-payo-usd-stablecoin