Skadden advised Paxos in connection with its approval to convert its New York Department of Financial Services (NYDFS) limited purpose trust charter to a national trust charter overseen by the U.S. Office of the Comptroller of the Currency (OCC). Upon conversion, all of Paxos Trust Company’s U.S.-based activity will be subject to OCC supervision.
Paxos’ federally regulated brokerage and stablecoin issuance platform will allow businesses to issue, custody, trade and settle digital assets and support them with service and compliance across all 50 states.