Paxos Receives Preliminary US Federal Banking Charter Approval from OCC
3 hours ago by Oluwapelumi Adejumo · 3 min read
Photo: Shutterstock
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Paxos hopes to be at the forefront of that wave of regulation and the recently gained approval is one more step along that road.
The crypto giant Paxos received preliminary conditional approval from the US Office of the Comptroller of Currency (OCC) on Friday. Paxos joins Anchorage and Protego in holding a federal banking charter, which allows them to carry out custodial and management services for digital assets, stablecoin reserves, and crypto-based services like payments, trade, KYC, and exchange.
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