The proposed bank would not take deposits or make commercial loans; Ramp says it would build products alongside its banking partners.
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Paragon had already halted its PAPER market and settled open positions at $0.026296 after Papertrade ruled out token transfers for now.
The gaming-media company plans to become Superplanet, a Nasdaq-listed US Bitcoin treasury platform, with closing expected in Q4 2026.
Holders who earned PAPER through trading losses can stake it for USDC distributions, but still have no date when they can transfer or sell their tokens.
The early-access feature uses automatic USDG loans at 50% initial loan-to-value, with non-USDG deposits capped at $20,000 per account.
The Morpho vault lends against cbBTC collateral, but nearly all its assets remain idle rather than deployed into loans.
Deputies approved the amendment by one vote. If enacted, it would end tax deferral for conversions into single-currency e-money tokens from January 2027.
