Payoneer Files Application for U.S. National Trust Bank Charter to Strengthen Regulated Financial Infrastructure for Global Businesses
Rhea-AI Summary
Payoneer (NASDAQ: PAYO) filed an application with the Office of the Comptroller of the Currency on Feb 24, 2026 to form PAYO Digital Bank, N.A., a national trust bank intended to support stablecoin-enabled infrastructure for nearly two million customers.
If approved, PAYO Digital Bank would send and receive approved stablecoins, issue PAYO-USD, manage reserves, offer custodial wallets, and provide fiat on-ramps and off-ramps under the GENIUS Act federal framework.
Positive
- Filed OCC application to charter PAYO Digital Bank
- Intends to issue PAYO-USD compliant with GENIUS Act
- Stablecoin rails for send/receive, custody, on/off-ramps
- Targets Payoneer's nearly two million customers
Negative
- Bank charter is pending OCC approval; outcome uncertain
- No timeline provided for approval, launch, or issuance
Key Figures
Market Reality Check
Peers on Argus
Multiple software/fintech peers are also down, with EVTC -5.67%, PAGS -5.12%, AI -4.95%, APPN -2.69%, and NN -1.79%, while PAYO is down -8.69%, suggesting a broader risk-off move with PAYO underperforming.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 17 | Stablecoin capabilities | Positive | -0.8% | Announced embedded stablecoin capabilities powered by Bridge for global businesses. |
| Feb 05 | Earnings date notice | Neutral | +7.3% | Set Q4 and full-year 2025 earnings release and webcast schedule. |
| Jan 29 | Geographic expansion | Positive | +2.1% | Expanded local collection capabilities in Indonesia and enhanced MXN services. |
| Jan 22 | Regulatory approval India | Positive | +8.6% | Received in-principle RBI authorization as a cross-border Payment Aggregator. |
| Jan 20 | Workforce acquisition | Positive | -0.9% | Acquired Boundless to expand European Employer of Record and payroll offerings. |
Recent strategic and regulatory announcements (India authorization, geographic expansion, stablecoin plans) have often coincided with positive price moves, though some crypto-related and acquisition news saw mild negative or flat reactions.
Over recent months, Payoneer has reported several strategic milestones. On Jan 20, 2026, it acquired Boundless to deepen European workforce management capabilities. On Jan 22, 2026, it received in-principle RBI authorization as a cross-border Payment Aggregator in India, tied to over $80 billion in TTM volume. Subsequent news expanded capabilities in Mexico and Indonesia, and announced embedded stablecoin features and an upcoming Q4/FY25 earnings release. Today’s national trust bank application extends this stablecoin and cross-border payments strategy.
Market Pulse Summary
This announcement highlights Payoneer’s intent to deepen its regulated infrastructure by seeking an OCC national trust bank charter for PAYO Digital Bank, focused on stablecoin-enabled services. It follows earlier moves into India’s PA-CB regime, geographic expansion, and embedded stablecoin capabilities. Key watchpoints include progress of the charter application, execution of the stablecoin roadmap, and upcoming Q4/FY25 results on February 26, 2026, all against a share price near its 52-week low.
Key Terms
stablecoin financial
office of the comptroller of the currency (occ) regulatory
national trust bank regulatory
custodial services financial
wallet infrastructure technical
AI-generated analysis. Not financial advice.
Over the past year, stablecoin adoption has accelerated for real-world businesses that operate globally. This application is a critical next step in Payoneer's strategy to integrate stablecoin capabilities into its global payments ecosystem connecting stablecoin efficiency to the local economies where nearly two million customers operate.
"Payoneer is at the forefront of cross-border payments, and we believe stablecoins will play a meaningful role in the future of global trade," said John Caplan, Chief Executive Officer of Payoneer. "Through PAYO Digital Bank, we aim to provide customers with a trusted and regulated way to leverage the latest payment innovations as part of their global financial operations."
The passage of the GENIUS Act created a new federal framework for stablecoins in the United States. If approved, PAYO Digital Bank would allow Payoneer to leverage this new framework to bring stablecoin innovation to the day-to-day operations of small-and medium-sized businesses worldwide, via a federally supervised trust bank. This would allow PAYO Digital Bank to:
- Send and Receive Stablecoins: Allows customers to pay and be paid in a variety of approved stablecoins;
- Issue PAYO-USD: A stablecoin that will be issued in compliance with the GENIUS Act and serve as the holding currency in Payoneer wallets;
- Manage PAYO-USD Reserves: Manage the reserves that back PAYO-USD;
- Offer Custodial Services: Business-grade wallet infrastructure for holding stablecoin balances, and;
- On-Ramp and Off-Ramp: Allow customers to seamlessly convert from stablecoin balances into local currencies in the markets in which they operate.
"Payoneer's nearly two million customers are at the epicenter of global adoption, where stablecoins can deliver meaningful improvements to how global trade happens," said Rob Morgan, Proposed CEO of PAYO Digital Bank, "PAYO Digital Bank will help us offer global SMBs an integrated, business-grade stablecoin solution that will accelerate payments, add transparency, and improve access to markets."
Payoneer believes this offering will help advance the use of the USD in global trade, reduce barriers for American companies competing internationally, and expand the dollar's presence across non-dollar payment corridors. The filing reflects Payoneer's strategy to simplify payments and enable companies to pay and get paid across borders while managing their funds across multiple currencies and stablecoins.
Payoneer worked closely with their advisors Davis Polk & Wardwell LLP in preparing the application.
About Payoneer
Payoneer is the financial platform for cross-border business and global payments. Payoneer empowers millions of businesses with the financial tools and services they need to grow and transact globally with confidence. We make it easier for SMBs, particularly in emerging markets, to connect to the global economy, pay and get paid across borders, manage their funds across multiple currencies, and grow their businesses.
For more information, visit https://www.payoneer.com/
Forward-Looking Statements
This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Payoneer's future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "plan," "will," "estimate," "anticipate," "believe," "predict," "potential" or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in applicable laws or regulations; (2) the possibility that Payoneer may be adversely affected by geopolitical events and conflicts, such as
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SOURCE Payoneer
FAQ
What did Payoneer announce about a bank charter on Feb 24, 2026 (PAYO)?
Will PAYO Digital Bank issue a stablecoin called PAYO-USD and how will it be backed?
How will Payoneer's proposed bank support small and medium-sized businesses (PAYO)?
Does Payoneer's OCC filing mean PAYO Digital Bank is already operational?
Which regulatory framework will govern PAYO Digital Bank's stablecoin activities (PAYO)?
How does the PAYO Digital Bank proposal affect Payoneer's existing customer base?
