ChainCatcher News: Fintech company Payoneer has submitted an application to the Office of the Comptroller of the Currency (OCC) in the United States to establish PAYO Digital Bank National Trust Bank, aimed at providing infrastructure to support stablecoins for global businesses. Over the past year, the use of stablecoins in global transactions has accelerated. This application is a key strategic move for Payoneer, with the goal of integrating stablecoin functionality into its global payment ecosystem, which connects nearly 2 million customers.
If approved, PAYO Digital Bank will enable customers to send and receive multiple stablecoins, issue the PAYO-USD stablecoin compliant with the GENIUS Act, manage stablecoin reserves, provide custody services, and support stablecoin-to-local currency conversions. Payoneer CEO John Caplan stated, “We believe stablecoins will play an important role in the future of global trade. Through PAYO Digital Bank, we aim to provide customers with a regulated way to leverage the latest payment innovations.”
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