Paxos Gains OCC Trust Approval

Paxos has received approval to convert its New York Department of Financial Services limited purpose trust charter into a national trust charter regulated by the U.S. Office of the Comptroller of the Currency. The conversion is expected to be completed shortly. After the transition, all U.S.-based activities of Paxos Trust Company will fall under direct OCC supervision.

Paxos is a blockchain infrastructure provider for institutions. The new status places the company under a single federal regulator and removes the need for state-by-state oversight. This structure allows Paxos to offer digital asset services across all 50 states within one regulatory framework.

The federally regulated platform enables businesses to issue, custody, trade, and settle digital assets under consistent rules. The OCC trust charter also applies to Paxos-issued stablecoins. PYUSD, a U.S. dollar-backed stablecoin issued by Paxos, will operate under federal oversight and is expected to align with upcoming GENIUS legislation. PAXG, a gold-backed digital asset, will remain issued within the same federal framework.

Image: Freepik