Paxos Pursues National Trust Charter to Obtain Federal Oversight

Paxos, a leading real-world assets tokenization firm, is seeking to expand its regulatory footprint by applying for a national trust charter with the Office of the Comptroller of the Currency. The move WOULD transition the company from its current New York Department of Financial Services oversight to federal supervision, signaling a strategic push for broader market access and enhanced credibility.

Chief Executive Charles Cascarilla framed the application as an extension of Paxos's commitment to safety and transparency in blockchain-based financial infrastructure. The company currently holds regulatory approvals in multiple jurisdictions, including Singapore and Abu Dhabi, and serves as issuer for prominent stablecoins like PayPal USD and Pax Dollar.

This regulatory pivot comes as stablecoins gain traction among institutional investors and traditional finance players. Paxos's multi-jurisdictional compliance framework positions it uniquely in the competitive stablecoin issuance market, where regulatory clarity remains a key differentiator.