Tagged: charles cascarilla

Paxos and State Street to Deliver Reduced Costs, T+0 Settlement in New Pilot

Money Eyes Benjamin Look See

Paxos, the regulated blockchain infrastructure platform, has teamed up with State Street (NYSE: STT). one of the “leading” providers of financial services to institutional investors, “to integrate State Street’s custodial services into the Paxos Settlement Service.” As part of the pilot, State Street was able “to… Read More

House Financial Services Committee Hearing on Digital Assets Provides Insight into Regulatory Needs of Crypto Industry

Digital Asset Hearing House Financial Services Committee 12.8.21

Earlier today (December 8, 2021), the House Financial Services Committee held a hearing on digital assets. As was previously reported, the witnesses included top crypto executives and thus provided the opportunity for a unique discussion between House members and crypto entrepreneurs. Chairwoman of the Committee,… Read More

Here is the Memo for the Digital Assets Hearing by House Financial Services Committee

House Financial Services Committee

Later today (December 8, 2021), the House Committee on Financial Services will hold a hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”  This hearing will be widely scrutinized by the Fintech sector… Read More

Digital Asset Firm Paxos Raises $300 Million, Now Valued at $2.4 Billion

Charles Cascarilla Paxos CFTC TAC 2

Compliance first digital asset firm Paxos has closed a $300 million Series D round of funding, according to a note from the company. Paxos’s platform offers technology to tokenize, custody, trade, and settle assets. Oak HC/FT led the round, with participation from existing investors including… Read More

Compliant Blockchain Infrastructure Firm Paxos Completes Same Day Stock Settlement with Credit Suisse and Instinet

Charles Cascarilla Paxos CFTC TAC 2

Paxos to Apply for Formal Clearing Agency License from the SEC Paxos Trust Company, a compliant blockchain infrastructure provider, has completed a same-day settlement of US-listed equity trades in partnership with Instinet and Credit Suisse. Same-day settlement is colloquially known as T+0 – currently, financial… Read More

Blockchain Infrastructure Platform Paxos Secures $142 Million in Series C Funding Round Led By Declaration Partners

Charles Cascarilla at Paris Fintech Forum 2020 Paxos

  Paxos, a blockchain infrastructure platform, today announced it has closed a $142 million Series C round of funding. Declaration Partners, the investment firm backed by the family office of David M. Rubenstein, led the round, with participation from Mithril Capital, PayPal Ventures, RIT Capital Partners plc, Ken Moelis, Alua Capital,… Read More

PayPal to Allow Users to Buy, Sell, and Pay in Crypto in Partnership with Paxos

Cryptocurrency Wallet Bitcoin

  PayPal (NASDAQ:PYPL) has partnered with Paxos to allow users to buy, hold, sell crypto, and pay in crypto by using the PayPal wallet in a new partnership with Paxos. The decision to incorporate digital assets is another sign of corporate acceptance of digital currency…. Read More

Paxos Launches Crypto Brokerage, Revolut is First US Customer

Charles Cascarilla Paxos CFTC TAC 2

Paxos Trust Company, the first regulated Trust company for digital assets in the US, is introducing Paxos Crypto Brokerage – a service that integrates digital asset trading and sending within its portfolio of services. Paxos reports that it is the largest issuer of regulated stablecoins… Read More

First! Paxos is Now Settling Securities Using Blockchain, First Customers are Credit Suisse and Instinet

Charles Cascarilla at Paris Fintech Forum 2020 Paxos

In a first for the blockchain industry, Paxos Trust Company, a New York-regulated financial institution has launched the Paxos Settlement Service. According to a note from the firm, the service can now settle select U.S. listed equity trades between broker-dealers Credit Suisse and Instinet, LLC…. Read More

Open Road: Paxos Receives No Action Letter from the SEC Pertaining to Paxos Settlement Service

US Capitol Washington DC Green Light Direction Path

On October 25, 2019, Paxos sent a letter to the Securities and Exchange Commission (SEC), Division of Trading and Markets. The letter was in request to receive a No Action letter from the SEC in regards to Paxos’s operation of a securities settlement system. Paxos… Read More

Stablecoin Paxos Tops $5 Billion in Transactions in Just 3 Months

charles cascarilla

Paxos, and its stablecoin Paxos Standard token (PAX), has topped $5 billion in transactions in just three months, according to a note from the company. PAX says that to date it has been used in $5,245,958,124.65 worth of transaction volume, including exchange trading volume and… Read More

New York Department of Financial Services Approves Gemini & Paxos Stablecoins Pegged to US Dollar

Approved Stamp1

The New York Department of Financial Services (DFS) says they are continuing to foster responsible growth in the Fintech sector following the authorization of stablecoins issued by both the Gemini Trust Company and Paxos Trust Company. The Gemini Dollar will be pegged to the US… Read More

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