Paxos has applied to convert its New York trust charter into a national trust charter under the supervision of the Office of the Comptroller of the Currency. This step will move the blockchain infrastructure and tokenization company from state-level oversight to federal supervision.
The company aims to strengthen its position as a leader in regulatory compliance in the digital asset sector. Paxos has operated under the New York State Department of Financial Services since 2015. It became the first blockchain and tokenization company to receive a limited-purpose trust charter.
In 2018, it issued the first regulated stablecoin. The firm believes that an OCC charter will expand its reach and provide even greater oversight. If approved, the company will fall under the OCC in the United States while maintaining regulatory relationships with authorities in Europe, Singapore, and Abu Dhabi.
Paxos powers global enterprise platforms
This network of oversight will allow Paxos to offer its services globally under a unified compliance framework. The company plans to use this position to give enterprises more secure and transparent access to blockchain-based assets.
Paxos has built its reputation on safety and transparency. All its issued assets are backed by reserves in U.S. dollars, Treasuries, and cash equivalents. The reserves are bankruptcy-remote, giving customers a full guarantee of redemption at any time. The company assures that the shift to federal oversight will not disrupt existing services.
Paxos provides infrastructure for a faster and more open financial system. It works to move assets instantly around the world without relying on outdated processes. The company’s solutions power platforms from global enterprises, including PayPal, Interactive Brokers, Mastercard, Mercado Libre, and Nubank.
Paxos pushes for wider Blockchain adoption
The company is licensed in multiple jurisdictions to conduct virtual currency business and issue regulated digital assets. Its stablecoins include Pax Dollar, Pax Gold, PayPal USD, and Lift Dollar. It also issues Global Dollars in Singapore and Europe.
It is with full compliance with local regulations and offers it on blockchain networks like Solana. Paxos has secured more than $500 million in funding from leading investors such as Oak HC/FT, Declaration Partners, Founders Fund, and PayPal Ventures.
By seeking a national trust charter, it is positioning itself to continue leading in compliance while expanding its influence in global blockchain adoption. The move signals a clear intent to merge technological innovation with the highest standards of regulatory governance.
