• Payoneer joins rush of fintechs bidding for US bank charters Coinbase, World Liberty Financial and Laser Digital are also in line for a banking charter in the US, after Crypto.com received conditional approval for a charter on Monday. • Cointelegraph in your social feed Global financial services firm Payoneer is the latest in a growing number of companies that have filed for a national trust banking charter in the US, which could enable it to issue a stablecoin and provide various crypto services. • Payoneersaidon Tuesday it filed with the Office of the Comptroller of the Currency to form PAYO Digital Bank, a week after itpartneredwith stablecoin infrastructure firm Bridge to add stablecoin capabilities to its platform that is mainly focused on cross-border transactions. • Payoneer said that it is seeking to issue a GENIUS Act-compliant stablecoin, PAYO-USD, to serve as the holding currency in Payoneer wallets, in addition to allowing customers to pay and receive stablecoins. • OCC approval would also enable Payoneer to manage PAYO-USD reserves, offer custodial services and enable customers to convert between the stablecoins into their local currency. • “We believe stablecoins will play a meaningful role in the future of global trade,” said Payoneer CEO John Caplan.

Article Summaries:

  • Payoneer has filed with the Office of the Comptroller of the Currency (OCC) to establish PAYO Digital Bank, a national trust banking charter that would allow it to issue a stablecoin and expand its crypto services. The move follows a partnership with Bridge, a stable‑coin infrastructure firm, and aims to launch the GENIUS‑Act‑compliant PAYO‑USD as a holding currency for Payoneer wallets. Approval would enable Payoneer to manage reserves, offer custodial services, and facilitate conversions between stablecoins and local currencies for its nearly two million small‑ and medium‑size business customers. The filing joins a growing list of fintechs-including Crypto.com, Circle, Ripple, Fidelity Digital Assets, BitGo and Paxos-that have sought similar charters.

Sources: