Paxos receives ‘preliminary conditional approval’ for US financial institution constitution By Cointelegraph

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Paxos receives ‘preliminary conditional approval’ for US financial institution constitution

The U.S. Workplace of the Comptroller of the Forex (OCC) has granted as we speak stablecoin firm and PayPal collaborator Paxos a federal constitution to type a nationwide belief financial institution — simply the third such constitution the OCC has granted crypto-native firms.

Paxos joins custody agency Achorage, who was the primary to obtain a constitution in January, and fellow custodian Protego, which obtained their conditional constitution in February.