BitPay to create National Bank in Georgia, USA

Who is BitPay? - they are a crypto payments startup firm that started in '11. Their website states 'BitPay provides Bitcoin and Bitcoin Cash payment processing services for merchants' Additionally, they have a payment app and offer prepaid Mastercards  They filed their application with the OCC (Office of the Comptroller of the currency) 

The proposed HQ would be in Alpharetta, GA  (a suburb north of Atlanta proper, the address is listed as Avalon which is a very nice area). The name of the national bank would be the BitPay National Trust Bank.  The OCC has several review boards and there are steps to broker this deal to fruition. 

Not sure how they would handle Crypto's would they act as custodians or they would just be a seller?  Time will tell.

Resources

BitPay https://bitpay.com

Summary

So this is the second Major Bank application for Crypto firms this year. Recall Kraken bank based in WY and now BitPay based in GA.  The journey is long but might be promising. 

Enjoy the Journey!