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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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Another day, another crypto firm cozying up to regulators—this time it’s Paxos throwing its hat in the ring.
The stablecoin issuer just applied for a national bank trust charter, putting it head-to-head with heavyweights like Circle and Ripple. Because nothing says 'decentralization' like begging for a banking license.
Why it matters: Trust charters unlock regulatory clarity—and let issuers skip the patchwork of state-by-state compliance nightmares. Paxos isn’t just playing defense; it’s gunning for institutional adoption with the finesse of a Wall Street veteran.
The big question: Will this move finally convince legacy finance that stablecoins aren’t just casino chips? (Spoiler: They’ll still call them that.)
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