Paxos，加密银行和联邦法规：浏览新的金融领域

深入了解Paxos对联邦宪章的追求，加密银行的兴起以及Stablecoin市场中联邦法规不断发展的景观。

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

Paxos，加密银行和联邦法规：浏览新的金融领域

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）处于金融革命的最前沿，寻求联邦监督，以弥合加密货币与传统金融之间的差距。这一举动强调了稳定菌和不断发展的监管景观的重要性。

Paxos's Bold Move: Seeking Federal Regulation

Paxos的大胆举动：寻求联邦法规

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以创建PayPal USD（PYUSD）和全球美元（USDG）而闻名，已申请了国家信托银行宪章。这将把其主要监管机构从纽约转移到美国货币主计算员办公室（OCC）。截至2025年8月11日，此变更旨在为Paxos提供与传统银行相似的国家保护，从而使其能够更有效地持有数字资产，发行稳定的款项和处理付款。

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.”

该联邦宪章可以通过消除遵守各种州法规的需求来大大降低Paxos的成本。这也表明了帕克索斯（Paxos）成为核心参与者的野心，有可能充当“ 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.

稳定剂对于分散融资（DEFI）至关重要，约占交易的70％。自推出以来，PAXOS的Stablecoins，包括Pyusd（与PayPal集成）和USDG，已经处理了31007亿美元的交易。仅Pyusd的流通量超过5亿美元，USDG正在扩展到欧洲市场。

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通过与PayPal集成来加倍。贝宝（Paypal）凭借其庞大的用户群，致力于列出超流动性的本机炒作令牌，并在贝宝结帐中启用USDH使用。此举将USDH定位为合规，全球可扩展的Stablecoin。

Challenges and Regulatory Hurdles

挑战和监管障碍

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.

不能保证联邦批准的道路。 Paxos先前面临2650万美元的NYDFS罚款，引起了遵守问题的关注。监管机构对系统性风险保持警惕，记得2022年Terrausd的崩溃。在历史上，OCC在向加密货币公司授予宪章时一直谨慎，强调了反货币洗涤控制和消费者的保护。

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并不孤单。 Circle（USDC）和Ripple（RLUSD）也申请了OCC宪章，这表明在国家框架下标准化Stablecoin规则的更广泛趋势。

Pi Network's Ambitious Integration with Global Banking

PI Network与全球银行业的雄心勃勃的整合

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.

当Paxos导航监管景观时，PI网络通过与Chainlink及其跨链互操作性协议（CCIP）集成来锻造自己的路径。该集成旨在将Picoin与传统金融系统联系起来，有可能实现跨境支付和资产结算。

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的战略定位具有数百万用户，提供了独特的优势。通过利用Chainlink的CCIP，PI网络可以弥合加密和传统银行业务之间的差距，从而创造出更相互联系的金融生态系统。

A Glimpse into the Future

瞥见未来

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确保其联邦宪章，Stablecoins可以从风险的加密资产过渡到联邦认可的付款工具。这将加强区块链与传统金融之间的联系，促进监管机构，机构和日常用户之间的信任。

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，仍然存在集中风险，其中一些发行人控制着大多数稳定活动。添加Paxos作为联邦特许球员可以使市场多样化，但也会增加对集中实体的依赖。

Final Thoughts

最后的想法

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的应用不仅仅是文书工作。这是美国银行系统中Stablecoin的未来的信号。无论是寻求联邦批准的Paxos还是与ChainLink集成的PI网络，加密货币世界都在推动界限。谁知道，也许有一天，您的祖母将通过Venmo发送Picoin，同时赢得了她的Pyusd兴趣。财务的未来看起来很疯狂，大家！