Payoneer applies for US national trust bank charter to launch PAYO-USD stablecoin

Payoneer said on Tuesday it applied to the Office of the Comptroller of the Currency for a US national trust banking charter to create PAYO Digital Bank and issue its PAYO-USD stablecoin. The firm plans to use the GENIUS Act-compliant token as a wallet holding currency and to support cross-border payments for its nearly two million mainly small and medium-sized business customers.