PPSI (Permitted Payment Stablecoin Issuer)

A Permitted Payment Stablecoin Issuer (PPSI) is the federal licensing category created by the GENIUS Act (signed 2025) for entities authorized to issue payment stablecoins backed by HQLA reserves. The OCC oversees charter applications; Circle, Paxos, and Bridge/Stripe are expected early applicants. The PPSI framework defines reserve composition, examination authority, and consumer protection obligations.

Canonical site: StablePPSI.com Cross-references: StableCharter.com, StableHQLA.com, StableGSIB.com