PayPal, the payments giant, announced on Monday that it has applied for a Utah industrial banking license and plans to establish a lending arm called PayPal Bank. The bank will provide commercial lending solutions for small businesses and interest savings accounts for other customers. PayPal has also applied for deposit insurance from the Federal Deposit Insurance Corporation.
As the operator of the PYUSD stablecoin, PayPal has been actively expanding its cryptocurrency business recently, launching the function of transferring cryptocurrencies between wallets and the "Pay with Cryptocurrency" merchant service.
PayPal applies for Utah Industrial Bank license, plans to establish PayPal Bank to expand financial services
2025-12-16 01:09:44
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
日本的Startale和SBI将推出受监管的日元稳定币
