PayPal Files to Become U.S.-Chartered 'PayPal Bank'

Published at 2025-12-16 01:30:07

PayPal has applied for a U.S. banking charter and intends to operate as “PayPal Bank,” the company told regulators. The filing signals a strategic push to bring more of its payments and custody operations under a federally chartered, supervised bank entity.

If approved, PayPal Bank would gain direct access to deposit-taking, potential FDIC coverage and closer oversight by federal regulators — capabilities that can lower costs, simplify settlement and expand product offerings, including crypto-related custody and payments. The application continues a broader trend of digital-asset and payments firms seeking bank charters to bolster consumer protections and institutional trust, though approval timelines and regulatory scrutiny remain uncertain.

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Exodus has launched 'Exodus Pay,' enabling users to spend BTC directly from their self-custodial wallet. The update aims to make holding and spending Bitcoin more seamless without moving funds to custodial services.

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Published at 2026-04-10 16:45:35

Circle Defends USDC Freezes Following $270M Drift Protocol Hack

Circle’s CEO defended the company’s authority to freeze USDC after the $270 million Drift Protocol exploit and urged faster legal frameworks to enable rapid, lawful responses to crypto hacks.

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Published at 2026-04-10 12:45:08

Russia to Ban Cash-for-Crypto Trades, Require Bank-Mediated Transactions

Russia will prohibit cash-for-crypto transactions and require trades to go through cashless, bank-mediated channels, a senior central bank official said. The measure is meant to increase oversight of crypto-related flows and clamp down on informal peer-to-peer markets.

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Published at 2026-04-10 11:30:09

Kraken's Federal Reserve master account raises U.S. financial risk concerns

Kraken has secured a master account with the Federal Reserve, but the risk-mitigation conditions tied to the account — and similar approvals that may follow — could introduce new vulnerabilities in the U.S. financial system.

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Published at 2026-04-10 10:15:08

HSBC, Standard Chartered Secure Hong Kong's First Stablecoin Licenses

The Hong Kong Monetary Authority has granted HSBC and Standard Chartered Group the first licenses under the territory’s Stablecoins Ordinance, which took effect in August 2025. The approvals mark a regulatory milestone that could accelerate bank-led stablecoin activity in the region.