Paxos dey find OCC Federal Charter make e boost Stablecoin trust
Crypto company Paxos don apply for national trust bank charter from US Office of the Comptroller of the Currency (OCC) to change dia New York state license to federal one. Dis move go bring their stablecoins—Pax Dollar (USDP), PayPal USD (PYUSD), and old USDG—under one federal supervision. After Circle’s USDC and Ripple’s RLUSD do similar things, CEO Charles Cascarilla talk say OCC supervision go improve compliance, transparency, and protection for consumers. Federal charter go fit match the new GENIUS Act, make rules easy, attract big institutional partners and fit set regulation standard. Traders go dey watch OCC decision because e fit affect stablecoin market stability and how institutions go take am up.
Bullish
By tryna get one OCC federal charter, Paxos wan standardize how dem dey oversee and make transparency strong for dia stablecoins dem. For short term, di announcement fit make traders trust USDP and PYUSD more, e go reduce shakiness and make trading volume high. For long term, clearer regulation under di GENIUS Act fit make institutional investors dey attracted plus solidify market structure, e go support bigger acceptance and price steadiness of Paxos stablecoins dem. Same kain filings from Circle and Ripple don dey seen well by di markets, showing say regulated stablecoins get better future.