Cryptocurrency

BitPay payment service has applied to create a national bank in the United States

Major cryptocurrency payment operator BitPay has filed an application with the Office of the Comptroller of the United States of America (OCC) to register a national bank in Georgia, USA.

It is assumed that the new banking institution will be called BitPay National Trust Bank, and the headquarters will be located at the same address as the headquarters of the payment service, in the suburbs of Atlanta. 

The bank’s management includes top managers of BitPay – co-founder and CEO of the operator Stephen Pair, co-founder Tony Gallippi, CFO Jagruti Solanki, general counsel and director of compliance with regulatory requirements Eden Doniger ( Eden Doniger, and Marketing Director William Zielke.

“We confirm that BitPay has filed an application with OCC to create the BitPay National Trust Bank. The National Trust Bank is a national bank that carries out trust activities. The OCC is at the forefront of regulating the cryptocurrency industry. Our operations as a national bank will be subject to strict safety and security requirements so that our clients can be sure that they are receiving the best services, ”said Eden Doniger.

Recall that at the end of November, the OCC proposed regulatory changes that will make it easier for cryptocurrency companies to access banking services.

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