Paxos Company Gains Preliminary Approval From The Office Of The Comptroller Of Currency
Blockchain firm Paxos has been granted a “preliminary conditional approval” by the Office of the Comptroller of Currency.
The newly formed Paxos National Trust will operate under the OCC and offer custody services, stablecoin management, payment, exchange and other services.
It will also be subjected to 18 months of evaluation during which the OCC will determine the final approval.
Having an OCC-regulated trust license means it can operate nationwide and will eliminate state-level licenses.
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