December 12, 2025— Paxos, the leading regulated blockchain infrastructure platform, announced today that the Office of the Comptroller of the Currency (OCC) has approved its application to convert its New York limited-purpose trust charter into a full national trust charter. The conversion is expected to be completed imminently, making Paxos the first blockchain infrastructure company to operate entirely under direct federal banking supervision in the United States.

With this approval, all of Paxos Trust Company’s U.S.-based activities — including stablecoin issuance, digital asset custody, brokerage, trading, and settlement — will fall under OCC oversight, replacing its previous primary regulation by the New York Department of Financial Services (NYDFS).

The move establishes Paxos as the only federally regulated platform offering enterprises a unified, nationwide solution for launching and scaling digital asset products across all 50 states without fragmented state-by-state licensing.

Key implications of the OCC charter:

• PayPal USD (PYUSD), the PayPal-issued stablecoin managed and issued by Paxos, will become the largest U.S. dollar-backed stablecoin issued by a federally regulated entity.