Payoneer announced the launch of built-in stablecoin capabilities on its platform and plans to issue its own stablecoin. As part of this initiative, the company also intends to establish a national trust bank in the United States.
FinTech company Payoneer revealed a new suite of services for handling stablecoin transactions through its international payment system. The solution will be implemented in partnership with Bridge, a stablecoin infrastructure platform owned by payment provider Stripe.
As part of the initiative, Payoneer plans to integrate the full cycle of stablecoin operations, ranging from receiving and storing to sending and converting, directly into its cross-border payment platform interface. The solution will be available in select markets in Q2 2026.
The new functionality will allow companies to use stablecoins for everyday payments, including:
- receiving payments from clients;
- holding funds in digital dollars;
- making payments to suppliers or contractors abroad.
If needed, users will be able to withdraw funds to bank accounts in local currencies. Digital asset operations will be integrated into a single financial infrastructure without requiring interaction with separate blockchain services.
According to John Caplan, CEO of Payoneer, the company is targeting small and medium-sized businesses in emerging markets, where adopting stablecoins faces challenges such as fiat conversion complexity, regulatory uncertainty, and fragmented processes. He stated that the goal of the project is to embed “no-friction money movement” into clients’ financial stack, with a focus on speed, security, and regulatory compliance.
Under the new strategy, Payoneer also plans to issue its own stablecoin, PAYO-USD. The asset is expected to become the primary unit of account within the Payoneer ecosystem. To manage reserves and support the issuance of the asset, the company plans to establish PAYO Digital Bank, N.A., a regulated platform for stablecoin operations that will provide the legal and operational framework for PAYO-USD and other digital asset initiatives. For this purpose, Payoneer filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to create a national trust bank.
If approved, PAYO Digital Bank will receive national trust bank status and operate under the federal regulatory framework. Under this new license, Payoneer will not only issue its own PAYO-USD token but also allow clients to send and receive payments in approved stablecoins.
Moreover, PAYO Digital Bank will provide enterprise-level custodial services for storing stablecoins and offer mechanisms for converting digital assets into local currencies. According to Rob Morgan, Proposed CEO of PAYO Digital Bank, the initiative will expand the use of the U.S. dollar in global trade and reduce barriers for American companies operating abroad.
After the GENIUS Act came into effect, and the right of national trust banks in the U.S. to provide non-fiduciary custodial services was confirmed, various FinTech companies began actively applying to the OCC for national bank status. Circle Internet Group and Bridge filed similar applications.
