Global payments specialist, Payoneer, has become the latest fintech to seek a national banking licence in the United States, joining a growing group of crypto and finance companies pursuing federal charters.

The company has submitted an application with the Office of the Comptroller of the Currency (OCC) to form PAYO Digital Bank, N.A., a proposed national trust bank that would support stablecoin-enabled services for its customers.

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Payoneer’s planned digital bank would operate under the new regulatory framework created by the GENIUS Act which provides guidelines for issuing and supervising stablecoins. If the OCC approves the charter, Payoneer would be able to:

  • Issue its own stablecoin, called PAYO-USD, compliant with federal law.

  • Send and receive approved stablecoins through its platform.

  • Manage the reserves backing PAYO-USD.

  • Provide custodial services and wallets for customers.

  • Convert stablecoins into local currencies, helping businesses access money where they operate.

In a press release, Payoneer said the move is designed to extend its existing cross-border payments business with regulated stablecoin infrastructure especially for its nearly two million small and medium-size business customers around the world.

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By 2026, Payoneer has cemented itself as a major global fintech and cross-border payment platform that helps individuals and businesses send, receive, and manage international funds.

It offers multi-currency e-wallets and virtual accounts, global money transfers, prepaid debit card services, currency conversion, mass payouts, working-capital financing, and tools tailored to freelancers, e-commerce sellers, and small and medium-sized businesses operating across borders. Users can receive funds in local currencies from marketplaces, freelance platforms, and corporate clients, then withdraw or spend those funds globally. Payoneer supports transactions in over 150 currencies and is active in more than 200 countries and territories.

In terms of market share, industry data suggests Payoneer accounts for a significant portion of global cross-border payment flows, especially within the freelancer and SME segments — with estimates around 15 % of global cross-border payment volume among freelancers and small business transactions.

While exact figures vary by region and reporting source, its annual transaction volume reached about $80 billion in 2024 and has continued expanding through 2025-26, reinforcing its position among leading payment facilitators alongside competitors like Wise and PayPal.

This application comes at a time when several other firms across the board are also seeking or have already won trust bank charters from the OCC reflecting rising industry interest in federally overseen digital finance.

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