The stablecoin issuer has nabbed a banking license, but it doesn't mean they'll be doing any banking in the traditional sense.
Paxos receives ‘preliminary conditional approval’ for US bank charter
The stablecoin issuer completed a successful pilot test for same-day trade settlements with Credit Suisse and Instinet.
Paxos applies for clearing license with SEC following successful pilot tests
The stablecoin issuer is pursuing ambitious plans in the expanding crypto space.
PayPal crypto partner Paxos closes $142M funding round
The stablecoin issuer and PayPal partner wants to increase its range and scope of services by becoming the first crypto services provider to be regulated at bot...
Paxos seeks approval to become fully-regulated crypto bank
Paxos CEO Charles Cascarilla sees a bright future for tokenized assets — possibly through PayPal
As PayPal integration looms, Paxos CEO sees mass adoption for tokenized assets
These week's news highlighted how governments test new regimes for cryptocurrency, which can be slow but are certainly some kind of progress.
Law Decoded: Government sandboxes, test beds and crypto compromises, Oct. 16-23
For now, PayPal's crypto payments are more about satisfying regulators than providing users with crypto capabilities.
Regulation will keep PayPal's new crypto services from looking anything like crypto