Bank Charter

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OCC Grants Crypto Firm Paxos ‘Conditional Approval’ for US Bank Charter

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The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize the firm’s future banking plans. Paxos Granted Preliminary … Read more

OCC Chief Says Americans Gravitating Toward Digital Currencies: Urges Banks to Embrace Innovation

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Brian Brooks, the acting comptroller of currency at the U.S. Office of Comptroller of Currency (OCC), says America must adopt digital currency payment rails if the country hopes to compete with global payment rails in the future. He insists changing consumer needs must be prioritized over the interests of powerful banks that may be against … Read more

Banks Stopped Walmart Bank – Now the Retail Giant Hits Back With Crypto

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On August 1, it was discovered that the giant retail corporation Walmart has patented plans for a stablecoin that’s backed by U.S. dollars. If released into the wild, the USD-based cryptocurrency would be issued to select Walmart retailers and partners while the patent’s description explains the coin could be used outside of Walmart’s retail scope … Read more