WASHINGTON--Cross-border payments FinTech Payoneer has applied to the Office of the Comptroller of the Currency to launch a digital national trust bank, PYMNTS reported.
The proposed PAYO Digital Bank, N.A., would focus on “stablecoin-enabled infrastructure for global businesses,” supporting what the company described as accelerating real-world stablecoin adoption among internationally operating firms. Payoneer said the move is aimed at integrating stablecoin capabilities into its payments ecosystem, which serves nearly two million customers worldwide.
If approved, the charter would allow Payoneer to operate under the framework established by the GENIUS Act. The bank would be authorized to send and receive stablecoins, issue its own token (PAYO-USD), provide custody services and enable conversion between stablecoins and local currencies.
The filing comes amid a broader push by nonbanks to secure federal charters. The OCC received 14 de novo bank applications last year—nearly matching the total number submitted over the prior four years combined, PYMNTS reported in January.