Paxos Seeks OCC National Trust Charter to Strengthen Regulatory Framework

Paxos, a leading blockchain and tokenization platform, has applied to the U.S. Office of the Comptroller of the Currency (OCC) to convert its New York State trust charter into a federal one. The MOVE aims to expand its regulatory oversight and enhance its global compliance capabilities.

If approved, the national charter WOULD place Paxos under direct OCC supervision, complementing its existing oversight by regulators in Singapore, Abu Dhabi, and Finland. The upgrade would enable the firm to hold customer assets, accept deposits, and issue loans under U.S. banking laws—a significant expansion of its financial infrastructure services.

"OCC supervision will cement our dedication to providing the most secure, reliable infrastructure," said CEO Charles Cascarilla, emphasizing Paxos' decade-long reputation as a regulatory leader in blockchain technology.