Payoneer Global files application for U.S. national trust bank charter

Payoneer has filed an application with the Office of the Comptroller of the Currency to establish PAYO Digital Bank, N.A., a national trust bank designed to support stablecoin-enabled infrastructure for global businesses. This application is a next step in Payoneer’s strategy to integrate stablecoin capabilities into its global payments ecosystem. The passage of the GENIUS Act created a new federal framework for stablecoins in the U.S. The approval would allow PAYO Digital Bank to send and receive stablecoins, issue PAYO-USD, manage PAYO-USD reserves, offer custodial services, and allow customers to convert from stablecoin balances into local currencies in the markets in which they operate.