As previously reported, US regulators apparently compelled a cessation in the utilization of BUSD – Binance’s dollar-based stablecoin managed by Paxos. The action represents another step in the tightening vice of crypto regulation. Paxos Trust is a regulated entity by the New York Department of Financial… Read More
Paxos, the regulated blockchain infrastructure platform, has disclosed the “specific” financial instruments backing its “regulated” stablecoins USDP and BUSD. Moving forward, Paxos will “provide these detailed disclosures on a monthly basis in addition to its attestations.” These reports “provide the CUSIP of all instruments backing… Read More
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
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
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
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
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
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 (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 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
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
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
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
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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