Payoneer has applied to the Office of the Comptroller of the Currency (OCC) to establish PAYO Digital Bank, a national trust bank aimed at integrating stablecoins into its global payment ecosystem. If approved, the bank will allow customers to send and receive approved stablecoins, issue compliant USD stablecoins (PAYO-USD), and provide custody and currency exchange services. CEO John Caplan stated that this move is part of Payoneer's strategy to leverage stablecoins to enhance the global trade efficiency of its nearly 2 million business clients.
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Payoneer has applied to the Office of the Comptroller of the Currency (OCC) to establish PAYO Digital Bank, a national trust bank aimed at integrating stablecoins into its global payment ecosystem. If approved, the bank will allow customers to send and receive approved stablecoins, issue compliant USD stablecoins (PAYO-USD), and provide custody and currency exchange services. CEO John Caplan stated that this move is part of Payoneer's strategy to leverage stablecoins to enhance the global trade efficiency of its nearly 2 million business clients.