data-i13n=”cpos:1;pos:1″ href=”https://www.engadget.com/apps/google-wallets-paypal-integration-is-ending-this-june-133045777.html” data-ylk=”slk:PayPal;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas” class=”link “>PayPal is the latest company looking to become a bank in the US. On Monday, the data-i13n=”cpos:2;pos:1″ href=”https://newsroom.paypal-corp.com/2025-12-15-PayPal-Submits-Applications-to-Establish-an-Industrial-Bank-to-Expand-Access-to-Financial-Services-for-U-S-Small-Businesses” rel=”nofollow noopener” target=”_blank” data-ylk=”slk:company announced;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas” class=”link “>company announced it had submitted applications for PayPal Bank to the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI). PayPal is already a bank in Europe, based in Luxembourg.
According to PayPal, it has provided “over $30 billion in loans and working capital” for more than 420,000 business accounts globally. PayPal puts its focus on small businesses in pitching the need…
