PayPal Takes a Bold Step into Banking: Files Application to Establish PayPal Bank
- Miguel Virgen, PhD Student in Business
- Dec 18, 2025
- 4 min read
PayPal, a leading global payments company, has announced a significant move that could reshape its role in financial services. The company confirmed it has filed applications with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) to establish PayPal Bank. This development marks a strategic pivot from being primarily a digital payment platform to potentially offering traditional banking services. If approved, PayPal Bank would provide consumers and businesses with a wider array of financial products, including deposit accounts and lending solutions.
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