Tokenization and Cross-Border Payments
Cross-border payments, or currency transactions between people and businesses from different countries, are ripe for innovation.
Paxos’ Team Helps Further Its Mission
Working at a remote-first company laser-focused on bold and beneficent ambitions can be exciting. Each day our diverse team reaches across time zones to push forward our mission of replatforming the financial industry’s infrastructure, making it more inclusive, open and secure.
Statement from Paxos on BUSD
Paxos is the sole issuer of BUSD, the US dollar-backed stablecoin regulated by the New York State Department of Financial Services (NYDFS) on Ethereum.
A Statement from Paxos on Recent Market Events and Volatility
Earlier today, Paxos sent the following update to its customers. The crypto industry is currently facing a tumultuous period. Amidst the ambiguity and turmoil, we want to provide transparency and…
Rise in Stablecoin Use Inspires Greater Financial Connectivity
As financial leaders around the world look to fortify business models with an eye toward future innovations, many are turning their attention towards digital assets and crypto markets.
Ease and Accessibility Make Crypto Rewards for Everyone
Rewards programs have been around for decades and are known to be widely popular with customers across competitive markets. And while brand loyalty is valuable, it can also be fickle, and customers are constantly looking for new ways of getting value.
Getting Regulated Stablecoins to Institutions Seamlessly – Paxos Partners with Floating Point Group
We’re pleased to partner with Floating Point Group to streamline how financial institutions can get access to USDP and BUSD, the regulated stablecoins from Paxos. Floating Point Group is a cryptocurrency prime brokerage with an institutional trading desk and an advanced settlement platform.
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…
Transparency and Trust in Paxos-Issued Stablecoins
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 Takes Unprecedented Step to Increase Transparency in Stablecoin Industry – Introducing USDP & BUSD Monthly Reserves Holding Reports
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.
Everything Old is New Again
When I started my career in finance, one of the first realizations I had was that almost nothing was new. A “new” product in finance was almost always a resurrection of an old product or a retrofitting of an existing product to a new application. Truly new products were exceptionally rare.
Understanding the Demise of UST and What Makes a Stablecoin Stable
Stablecoins are digital tokens backed by stable assets such as the US dollar, and were originally created for crypto investors to have an easy on- and off- ramp between fiat currencies and crypto. As stablecoin usage and market cap have increased, so has regulatory scrutiny. In particular, the reserve practices (or lack thereof) of various stablecoins have increasingly been in the spotlight - which brings us to the algorithmic stablecoin at the heart of the Terra ecosystem, UST.