Paxos，加密銀行和聯邦法規：瀏覽新的金融領域

深入了解Paxos對聯邦憲章的追求，加密銀行的興起以及Stablecoin市場中聯邦法規不斷發展的景觀。

Paxos, Crypto Banks, and Federal Regulation: Navigating the New Financial Frontier

Paxos，加密銀行和聯邦法規：瀏覽新的金融領域

Paxos is at the forefront of a financial revolution, seeking federal oversight to bridge the gap between crypto and traditional finance. This move highlights the increasing importance of stablecoins and the evolving regulatory landscape.

帕克索斯（Paxos）處於金融革命的最前沿，尋求聯邦監督，以彌合加密貨幣與傳統金融之間的差距。這一舉動強調了穩定菌和不斷發展的監管景觀的重要性。

Paxos's Bold Move: Seeking Federal Regulation

Paxos的大膽舉動：尋求聯邦法規

Paxos, known for creating PayPal USD (PYUSD) and the Global Dollar (USDG), has applied for a national trust bank charter. This would shift its primary regulator from New York to the U.S. Office of the Comptroller of the Currency (OCC). As of August 11, 2025, this change aims to provide Paxos with national protection, similar to traditional banks, allowing it to hold digital assets, issue stablecoins, and process payments more efficiently.

Paxos以創建PayPal USD（PYUSD）和全球美元（USDG）而聞名，已申請了國家信託銀行憲章。這將把其主要監管機構從紐約轉移到美國貨幣主計算員辦公室（OCC）。截至2025年8月11日，此變更旨在為Paxos提供與傳統銀行相似的國家保護，從而使其能夠更有效地持有數字資產，發行穩定的款項和處理付款。

This federal charter could significantly reduce costs for Paxos by eliminating the need to comply with varying state regulations. It also signals Paxos’s ambition to become a central player, potentially acting as the “bank of stablecoins.”

該聯邦憲章可以通過消除遵守各種州法規的需求來大大降低Paxos的成本。這也表明了帕克索斯（Paxos）成為核心參與者的野心，有可能充當“ stablecoins of stablecoins”。

The Stablecoin Surge and DeFi Integration

Stablecoin激增和Defi集成

Stablecoins are essential to decentralized finance (DeFi), accounting for about 70% of transactions. Paxos's stablecoins, including PYUSD (integrated with PayPal) and USDG, have processed $310.7 billion in transactions since launch. PYUSD alone has over $500 million in circulation, and USDG is expanding into European markets.

穩定劑對於分散融資（DEFI）至關重要，約佔交易的70％。自推出以來，PAXOS的Stablecoins，包括Pyusd（與PayPal集成）和USDG，已經處理了31007億美元的交易。僅Pyusd的流通量超過5億美元，USDG正在擴展到歐洲市場。

Paxos is doubling down by integrating with PayPal. PayPal, with its vast user base, is committing to listing Hyperliquid’s native HYPE token and enabling USDH use in PayPal Checkout. This move positions USDH as a compliant, globally scalable stablecoin.

Paxos通過與PayPal集成來加倍。貝寶（Paypal）憑藉其龐大的用戶群，致力於列出超流動性的本機炒作令牌，並在貝寶結帳中啟用USDH使用。此舉將USDH定位為合規，全球可擴展的Stablecoin。

Challenges and Regulatory Hurdles

挑戰和監管障礙

The path to federal approval isn't guaranteed. Paxos previously faced a $26.5 million fine from NYDFS, raising compliance concerns. Regulators are wary of systemic risks, remembering the collapse of TerraUSD in 2022. The OCC has historically been cautious in granting charters to crypto firms, emphasizing anti-money laundering controls and consumer protection.

不能保證聯邦批准的道路。 Paxos先前面臨2650萬美元的NYDFS罰款，引起了遵守問題的關注。監管機構對系統性風險保持警惕，記得2022年Terrausd的崩潰。在歷史上，OCC在向加密貨幣公司授予憲章時一直謹慎，強調了反貨幣洗滌控制和消費者的保護。

Paxos isn't alone in this pursuit. Circle (USDC) and Ripple (RLUSD) have also applied for OCC charters, indicating a broader trend toward standardizing stablecoin rules under a national framework.

Paxos並不孤單。 Circle（USDC）和Ripple（RLUSD）也申請了OCC憲章，這表明在國家框架下標準化Stablecoin規則的更廣泛趨勢。

Pi Network's Ambitious Integration with Global Banking

PI Network與全球銀行業的雄心勃勃的整合

While Paxos navigates the regulatory landscape, Pi Network is forging its own path by integrating with Chainlink and its Cross-Chain Interoperability Protocol (CCIP). This integration aims to connect Picoin with legacy financial systems, potentially enabling cross-border payments and asset settlement.

當Paxos導航監管景觀時，PI網絡通過與Chainlink及其跨鏈互操作性協議（CCIP）集成來鍛造自己的路徑。該集成旨在將Picoin與傳統金融系統聯繫起來，有可能實現跨境支付和資產結算。

Pi Network's strategic positioning, with millions of users, offers a unique advantage. By leveraging Chainlink's CCIP, Pi Network can bridge the gap between crypto and traditional banking, creating a more interconnected financial ecosystem.

PI Network的戰略定位具有數百萬用戶，提供了獨特的優勢。通過利用Chainlink的CCIP，PI網絡可以彌合加密和傳統銀行業務之間的差距，從而創造出更相互聯繫的金融生態系統。

A Glimpse into the Future

瞥見未來

If Paxos secures its federal charter, stablecoins could transition from risky crypto assets to federally recognized payment tools. This would strengthen the ties between blockchain and traditional finance, fostering trust among regulators, institutions, and everyday users.

如果Paxos確保其聯邦憲章，Stablecoins可以從風險的加密資產過渡到聯邦認可的付款工具。這將加強區塊鏈與傳統金融之間的聯繫，促進監管機構，機構和日常用戶之間的信任。

However, concentration risks remain, with a few issuers controlling most stablecoin activity. Adding Paxos as a federally chartered player could diversify the market but also increase reliance on centralized entities.

但是，仍然存在集中風險，其中一些發行人控制著大多數穩定活動。添加Paxos作為聯邦特許球員可以使市場多樣化，但也會增加對集中實體的依賴。

Final Thoughts

最後的想法

Paxos's application is more than just paperwork; it's a signal of the future of stablecoins within the U.S. banking system. Whether it's Paxos seeking federal approval or Pi Network integrating with Chainlink, the crypto world is pushing boundaries. Who knows, maybe one day your grandma will be sending Picoin via Venmo while simultaneously earning interest on her PYUSD. The future of finance is looking wild, y'all!

Paxos的應用不僅僅是文書工作。這是美國銀行系統中Stablecoin的未來的信號。無論是尋求聯邦批准的Paxos還是與ChainLink集成的PI網絡，加密貨幣世界都在推動界限。誰知道，也許有一天，您的祖母將通過Venmo發送Picoin，同時贏得了她的Pyusd興趣。財務的未來看起來很瘋狂，大家！