According to @MilkRoadDaily, Paxos has applied for a national trust charter with the U.S. Office of the Comptroller of the Currency (OCC). source: @MilkRoadDaily on X, Aug 14, 2025. The same source states Paxos joins Circle and Ripple in pursuing the same license. source: @MilkRoadDaily on X, Aug 14, 2025. Paxos issues USDP and serves as the regulated issuer of PYUSD for PayPal, making its regulatory status directly relevant to stablecoin markets. source: PayPal Newsroom (Aug 7, 2023); Paxos company disclosures. Circle is the issuer of USDC, and Ripple is associated with XRP. source: Circle official materials; Ripple company information.