Paxos Settlement Service has been actively settling listed US equity trades with pilot participants since launch in February 2020 NEW YORK, Sept. 20, 2021 /PRNewswire/ -- Paxos, the first regulated blockchain infrastructure platform,…
Cryptocurrency commissions are a low 0.12% - 0.18% of trade value GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announces its launch of cryptocurrency trading, enabling clients…
In the last year, the interest in cryptocurrencies has exploded. Now, more than ever, people want access to this new asset class through their trusted intermediaries. Sophisticated investors see the value in diversifying portfolios by tapping into new technology.
Paxos' regulated blockchain infrastructure platform powers Mastercard's stablecoin settlement pilot.
Regulation first. That has always been the sentiment throughout Paxos. It’s even more relevant as we build new products and scale our programs. Paxos set the stage for regulatory oversight in this market as we secured the first Limited Purpose Trust Company under the New York Department of Financial Services for digital assets, have conditional approval of a de novo national Trust Bank under the OCC, and will soon apply for full clearing agency registration from the Securities and Exchange Commission.
Paxos Standard (PAX) will now be known as Pax Dollar (USDP). The USDP ticker more easily identifies Pax Dollar as a US dollar-backed token. As use cases for stablecoins rapidly expand, the demand for a regulated USD token has grown significantly. Companies and consumers globally are entering crypto markets and need a safe, dollar-based solution. As USDP, everyone will be able to instantly recognize our token as a dollar-backed stablecoin.
At Paxos, we believe the only way to establish and maintain safety and transparency for customers is through rigorous oversight from a prudential regulator. This thesis has unfortunately borne out in the reserve mix for both USDC and USDT (Tether). Both of these tokens’ reserves are backed by a significant amount of non-cash financial instruments. A prudential regulator is crucial to ensuring the integrity of products used in the crypto ecosystem, and neither USDC nor USDT has such a regulator.
Paxos, the first regulated blockchain infrastructure platform, today announced it has added strategic investors including Bank of America, Coinbase Ventures, Founders Fund and FTX to its Series D round of funding.
Paxos attended and sponsored the Bitcoin 2021 conference in Miami, which took place in early June. A wide swath of crypto-interested people attended – beyond retail investors, many financial services companies attended as well, all eager to learn more about the crypto space.
Paxos, the first regulated blockchain infrastructure platform, today announced it has launched the Paxos Settlement Service for commodities. Paxos now facilitates the simultaneous settlement of cash and commodities trades, a first in the precious metals market.