We are advising Payoneer on its application to the OCC

Davis Polk is advising Payoneer Global Inc. on its application to the Office of the Comptroller of the Currency (OCC) to charter a de novo national trust bank in the United States, PAYO Digital Bank, N.A. (PDB). If approval of the de novo national bank charter is granted, PDB will operate as a permitted payment stablecoin issuer pursuant to the GENIUS Act.

Payoneer is a financial technology company that enables access to global commerce for businesses of all sizes, regardless of location. Founded in 2005 and headquartered in New York City, Payoneer provides a secure and regulated global financial platform, enabling millions of small and medium-sized businesses to seamlessly manage multi-currency transactions and participate in cross-border trade. Payoneer has established itself as a global leader in cross-border payments and has driven profitable growth while maintaining commitments to security, stability and compliance.

The Davis Polk financial institutions team includes partners David L. Portilla and Eric McLaughlin, counsel Justin Levine and associate Billy Hicks. Head of AML/CFT Daniel P. Stipano, counsel Kendall Howell and Will Schisa and associate Charles Marshall Wilson are providing advice on BSA/AML and sanctions compliance. Partner Adam Kaminsky and associate Mackenzie Hamilton are providing executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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