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BTCC / BTCC Square / Global Cryptocurrency /
PayPal Moves to Launch Its First U.S. Bank

PayPal Moves to Launch Its First U.S. Bank

Author:
Global Cryptocurrency
Published:
2025-12-16 07:08:33
12
2
BTCCSquare news:

PayPal has taken a significant step toward establishing its first U.S. bank by submitting applications to the FDIC and Utah regulators for an industrial loan company charter. The proposed entity, PayPal Bank, aims to expand small business lending and offer interest-bearing savings accounts with FDIC insurance upon approval.

The MOVE builds on PayPal's existing lending footprint, which has provided over $30 billion to 420,000 accounts since 2013. CEO Alex Chriss framed the initiative as a way to reduce reliance on third-party partners while supporting U.S. economic growth through streamlined financial services.

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