PayPal Moves to Set Up Utah-Chartered Bank to Bolster Payments and Lending – Decrypt
In brief PayPal said Monday it has filed with Utah regulators and the FDIC to form an industrial bank. An approval would allow it to originate loans, hold deposits, and access payment networks directly. The move could support its expanding crypto and PYUSD stablecoin settlement operations. PayPal has applied to establish a Utah-chartered industrial bank...
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