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Paxos Makes Power Play: Files for National Bank Trust Charter to Rival Stablecoin Giants Circle and Ripple
Paxos Makes Power Play: Files for National Bank Trust Charter to Rival Stablecoin Giants Circle and Ripple
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Crypto's regulatory chessboard just got hotter. Paxos—the blockchain infrastructure firm behind PayPal's stablecoin—is gunning for a national bank trust charter, putting it in direct competition with heavyweights like Circle and Ripple.
Why it matters: This isn't just paperwork—it's a strategic land grab for legitimacy in an industry still fighting Wall Street's side-eye. A bank charter means tighter compliance but also clearer rails for minting and moving stablecoins at scale.
The cynical take: Because nothing says 'decentralized future' like begging permission from the same institutions crypto was meant to disrupt. But hey—if you can't beat 'em, get a shiny regulatory stamp and join 'em.
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