BitPay, one of the largest bitcoin (EXANTE: Bitcoin) payment providers, has filed an application to launch a cryptocurrency-focused bank in the United States, The Block first reported.
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According to the filing, the service wants to receive a permission from to the Office of the Comptroller of the Currency (OCC) to organize a national bank. As per the filing, the main office of the bank will be based in Alpharetta, Georgia, and will be called BitPay National Trust Bank.
The company's plans to launch its own bank in the US comes after BitPay launched the payment platform dubbed BitPay Send for corporate clients, which allows mass payments in cryptocurrencies.
With the new service users can pay employees, affiliates, customers, vendors, contractors and others with digital assets. BitPay has pointed out each transaction is verified, recorded, and stored in a blockchain.
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