The last few weeks of markets-related news have been bleak. Equity markets are deep in the red following last year’s bull run, inflation hit record highs and companies across sectors are cutting staff and freezing hiring. It feels like there is little to be positive about… but Paxos sees it differently.
Paxos is a regulated blockchain infrastructure provider and we’re focused on building the platform that will power the future of finance. We’re committed to continuing to grow our team, with most hiring efforts focused in the Product and Engineering functions. If you’re a product manager, this is the time to join us and make your mark.
Infrastructure Is an All Weather Business
Mark Twain once said, “When everyone is looking for gold, it’s a good time to be in the pick and shovel business.” Infrastructure is critical in both upturns and downturns. As companies worldwide tighten their belts and prepare for a potential recession, CEO’s are re-evaluating long held assumptions and putting every expense under a microscope. In these circumstances, infrastructure is an essential expense.
Building great products takes time, which is why product managers are most effective when working on long-term focused products. That’s why Web3 is compelling… Facebook is all in and rebranded to Meta, venture capitalists are focusing solely on Web3 and even the biggest skeptics are changing their minds. Fortune 500 CEOs are privately thinking about the future of finance (I know this as many turn to Paxos for insights & guidance). The ongoing downturn is likely to accelerate plans to enter crypto as financial institutions cannot be left behind and must look at ways to introduce efficiency. The fastest, safest and most cost-effective way to access this market is to use a regulated infrastructure platform to tap into this world. Paxos is the answer.
Why not join Paxos and build the market infrastructure platform that will power Web3? You’ll contribute to a real business while learning this domain. At Paxos, you’ll gain the skills necessary to ship internet products for the next 20 years.
Paxos is a Product-First Culture
Beyond our infrastructure-first approach, Paxos has a unique set of circumstances that make it an excellent environment for PMs.
- Our Size: We’re still small enough for you to have a huge impact. The product team is under 20 people and everyone has a lot of ownership. We value autonomy because it helps us continue to move fast.
- Our Reach: We’re building products people actually use at companies that are household names. We’ve scaled our brokerage business (just one of our products) to more than half a billion users in under two years. With partners like PayPal, IBKR, Mercado Libre and Nubank, your conversations with partners around staged rollouts consider millions of users on Day 1.
- Functional Expertise First: We don’t hire on domain expertise, but instead seek out eager product leaders. We offer an opportunity to jump in from another industry and we’ll help teach you the foundations of Web3.
- We Know Markets: Our Founders have deep markets experience and have found success in downturns across other asset classes. Every founder on Earth claims they are in it for the mission, but ours mean it. (See for yourself! Take a read through our founding story) They know success in blockchain requires patience and a focus on the long-term. There’s nothing worse than product work that focuses only on making the next quarter’s numbers.
Regulation Enables Impact
Besides the market volatility, the second biggest topic of conversation in crypto and digital assets is the potential for regulatory action. What will Washington DC do? Who will be the regulator of record? How does that impact individual businesses?
Put simply, Paxos is ahead of the curve. We’ve proactively sought out regulatory oversight because we believe we can only affect societal wide change. Paxos was the first New York Department of Financial Services regulated Trust company for digital assets and the first to achieve regulatory approval for stablecoin issuance. We received conditional approval from the Office of the Comptroller of the Currency in the US for a federal Trust bank charter and secured preliminary approval as a Major Payments Institution from the Monetary Authority of Singapore. We hold all customer funds bankruptcy remote and in fully segregated accounts, which is how we ensure customers funds are always safe and available. Paxos has done more work to seek out regulation than any other operator in the space. That provides us an advantage as regulators and policymakers evaluate this space for future oversight.
Bottom Line: Paxos is Well-Positioned for the Long-Term
Across every team at Paxos, there is an undeniable feeling that we’re just getting started. We’re focused on developing the best infrastructure platform in the world and see this downturn as an opportunity. We’ll grow sustainably, enhance our capabilities and ship great products that people rely upon. Our behind-the-scenes work will continue to power the biggest moments in crypto. Keep an eye out for the positive headlines over the next few months… There’s a good chance Paxos infrastructure is behind that news.
Interested? Check out our open roles today and learn more about our product org from our recent webinar.