Payoneer has applied to the Office of the Comptroller of the Currency to establish PAYO Digital Bank, a national trust bank focused on stablecoin infrastructure for global businesses. The proposed digital bank would enable the payments company to integrate stablecoin capabilities into its global payments ecosystem, serving nearly 2 million customers worldwide. According to the company’s announcement, this stablecoin banking charter application represents a critical step in Payoneer’s strategy to connect digital currency efficiency with local economies.
PAYO Digital Bank would operate as a national trust bank specifically designed to support stablecoin-enabled infrastructure, per the release. The application comes as stablecoin adoption has accelerated over the past year among businesses operating internationally.
Stablecoin Banking Services and GENIUS Act Framework
If approved by regulators, PAYO Digital Bank would leverage the framework established by the GENIUS Act to deliver stablecoin services to small and medium-sized businesses around the world. The proposed bank plans to offer multiple digital currency services including sending and receiving stablecoins and providing custodial services. Additionally, PAYO Digital Bank intends to issue its own stablecoin called PAYO-USD and help customers convert stablecoin balances into local currencies in their operating markets.
The digital bank charter would allow Payoneer to operate within established regulatory guardrails while expanding its cryptocurrency capabilities. This approach reflects growing interest among financial technology companies in obtaining formal banking licenses to offer digital asset services.
Growing Trend of Nonbank Charter Applications
Payoneer joins a surge of nonbank companies seeking bank charters from federal regulators. Last year, the OCC received 14 de novo charter applications, nearly equaling the total applications received during the previous four years combined, according to reports from January.
The momentum has continued into 2026 with several notable applications. United Kingdom FinTech Revolut announced plans to apply for a U.S. banking license, while buy now, pay later provider Affirm revealed its intention to establish a bank subsidiary called Affirm Bank. Meanwhile, the Federal Deposit Insurance Corp. approved deposit insurance applications from automakers Ford and General Motors to establish Utah-chartered industrial banks in January.
According to industry analysis, these moves point to a structural change in how nonbanks seek permanence inside the regulated financial system. Government approval is increasingly viewed as an asset rather than an obstacle for companies expanding into financial services.
Integration with Existing Stablecoin Platform
The bank charter application came one week after Payoneer announced it was adding stablecoin capabilities to its existing platform. The new offering, powered by stablecoin infrastructure platform Bridge, allows businesses to securely receive, hold and send stablecoins as part of their everyday operations.
This initial stablecoin integration serves as a foundation for the more comprehensive services Payoneer plans to offer through PAYO Digital Bank. However, the company noted that stablecoin adoption has grown significantly among real-world businesses operating globally, creating demand for regulated financial infrastructure.
The OCC has not announced a timeline for reviewing Payoneer’s application or indicated when a decision might be reached. Authorities have not confirmed specific regulatory requirements or approval criteria for the proposed stablecoin-focused national trust bank.