FDIC Pass Through Insurance Disclosures

FDIC Pass Through Insurance Disclosures

The primary depository account that holds fiat cash is protected by FDIC insurance up to $250,000 for each account ownership category.  

Paxos maintains FDIC-insured deposits for stablecoins at the following depositories:

  • BMO Harris Bank N.A. (FDIC Certificate  #16571) 

  • Signature Bank (FDIC Certificate  #57053) 

  • Silvergate Bank (FDIC Certificate  #27330) 

  • State Street Bank and Trust Company (FDIC Certificate  #14)

Further, Paxos may utilize deposit placement networks operated by IntraFi Network LLC and Reich & Tang Deposit Solutions, LLC wherein the totality of balances in these deposit networks are FDIC-insured. 

A list identifying IntraFi Network insured depository institutions at which funds may be placed may be found here

A list of Reich & Tang Deposit Solutions, LLC’s network banks can be found here

Paxos may exclude particular insured depository institutions within each network from eligibility to receive funds.

Paxos maintains FDIC-insured omnibus deposits at the following depositories:

  • BMO Harris Bank N.A. (FDIC Certificate  #16571)

  • JPMorgan Chase Bank, N.A. (FDIC Certificate #628)

  • Signature Bank (FDIC Certificate  #57053)

  • Silvergate Bank (FDIC Certificate  #27330)

  • State Street Bank and Trust Company (FDIC Certificate  #14)

Further, Paxos has obtained private uninsured deposit insurance on both our stablecoin and omnibus deposits. Not all deposits are covered by the FDIC or private insurance, and Paxos may still incur losses in the event of a bank insolvency.