This Gramm-Leach-Bliley Act (GLBA) Privacy Notice (“Privacy Notice”) describes how Paxos Trust Company, LLC (“PTC”, “we,” “us,” and “our”) collects and shares the nonpublic personal information of U.S. Consumers. This…
The most important features of any financial product are its clarity, certainty and transparency. These features define both its utility and its safety. In the case of stablecoins, users should know what they own and outside observers should have a window into the activities of any firm holding reserves. Paxos follows the NYDFS guidelines for portfolio management at all times.
Paxos, the leading 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.
I've spent a lot of time in the last three months talking, writing and educating about stablecoins. The main takeaway I’ve focused on is that stablecoins - as a financial product - are really nothing new.