Payoneer Eyes New Stablecoin Digital Bank Launch

Global payments giant Payoneer is making a bold move into the future of finance, joining several other firms rushing to secure a US national trust bank charter. If approved, this step forward could unlock its ability to launch a stablecoin and roll out a new suite of crypto-powered services, marking a major shift in how the company serves businesses worldwide.

Payoneer’s Big Move: A Stablecoin Digital Bank in the Works

Payoneer has announced that it has taken steps toward securing a US national trust bank charter, a regulatory pathway that would allow it to expand beyond payments into digital asset services. If approved, the charter would allow Payoneer to transmit and receive stablecoins, issue its own dollar-backed token called PAYO-USD, and provide custodial infrastructure for business clients worldwide.

The move underscores the company’s growing commitment to integrating digital assets into its core payments network. According to the release, the proposed bank would serve as a bridge between stablecoin technology and real-world business operations. By combining blockchain efficiency with traditional financial systems, Payoneer aims to streamline cross-border transactions for its global customer base.

Payoneer highlighted that this application represents a critical step in its broader strategy. By embedding stablecoin capabilities into its ecosystem, the company aims to connect faster, more efficient digital payment rails with local economies where its nearly two million customers operate.

Payoneer CEO, John Caplan, said, “We believe stablecoins will play a meaningful role in the future of global trade.”

If approved, PAYO Digital Bank could position Payoneer at the forefront of a new financial model, one where stablecoins are seamlessly integrated into everyday business transactions, helping companies move money globally with greater ease and efficiency.

What This Means for Business and Payments

The real story behind Payoneer’s move is the clear regulatory path now opening up for stablecoins. The GENIUS Act, passed last year, established clear federal standards for issuing and supervising stablecoins, providing companies like Payoneer with greater confidence to enter this space with increased certainty and ambition.

Payoneer aims to offer services under federal supervision,  a move that could boost trust among partners while reducing compliance challenges. With clear supervision in place, key areas like how stablecoin reserves are handled, how assets are safeguarded, and how customer-facing services are delivered, offering a strong advantage for businesses cautious of regulatory uncertainty in the crypto and digital finance space.

For globally operating businesses, stablecoins can drastically cut both the time and cost of moving money across borders, replacing slow, multi-step bank transfers with near-instant settlements on blockchain networks. That kind of speed can be a game-changer for SMBs managing inventory, paying suppliers, or receiving funds from global marketplaces.

With Payoneer’s proposed digital bank, the experience could become even smoother, handling the conversion between stablecoins and local currencies, making it simpler for businesses to access their funds where they live and work.

Competitive Pressure and Industry Momentum

Payoneer is not alone. On Monday, the Office of the Comptroller of the Currency (OCC) granted Crypto.com conditional approval for a charter, joining the banking charters awarded to crypto companies such as Stripe’s Bridge, Circle, and Ripple, among others. World Liberty Financial, backed by the Trump family, submitted a similar application in January as part of efforts to broaden the reach of its USD1 stablecoin, though a decision is still pending.

This growing wave of competition suggests that an industry once ruled by traditional banking systems is waking up to the power of regulated digital currency infrastructure. For Payoneer, securing a charter early could be a defining edge, helping it stand out among peers and accelerate adoption among its customers, potentially reshaping how SMBs manage payments across borders.

What’s Next for Payoneer and Stablecoin Banking

Payoneer’s filing is an application; approval is far from guaranteed. The OCC review process can take months, often involving revisions, feedback, and added conditions. But if the charter is granted, it would mark a breakthrough moment not just for Payoneer but for regulated stablecoin adoption in the US and beyond.

Payoneer isn’t waiting on regulators to start building; it has integrated stablecoin features into its platform through its partnership with Bridge, signalling that it is actively laying the groundwork for a more crypto-integrated payments ecosystem.

Looking ahead, a successful PAYO Digital Bank could redefine the lines between traditional banking and digital finance, offering SMBs a seamless way to transact globally with faster settlements, lower costs, and smoother global transactions. For Payoneer’s customers and investors, the coming months could be crucial, as stablecoins move from experiment to essential tools in the global payments ecosystem.