News Explorer — PayPal Seeks Utah-Chartered Industrial Bank Status

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Dec 16, 1:26 am

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PayPal Seeks Utah-Chartered Industrial Bank Status

PayPal has applied to establish a Utah-chartered industrial bank to have more control over lending, deposits, and payments infrastructure for small businesses in the U.S. If approved, this move could help PayPal support its expanding crypto and stablecoin operations within a regulated banking framework.

PayPal has applied to establish a Utah-chartered industrial bank to have more control over lending, deposits, and payments infrastructure for small businesses in the U.S. If approved, this move could help PayPal support its expanding crypto and stablecoin operations within a regulated banking framework.

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