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.
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.
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.
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.
Certain conditions must be satisfied for pass–through deposit insurance coverage to apply to fiat currency. The underlying fiat currency may be eligible for pass-through insurance; however, no digital asset is…
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.
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.
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.
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.
Watch Paxos Engineering leaders Ilan Gitter and Brent Perreault go in-depth on what it takes to build a stablecoin and deploy it on the blockchain!
We are proud to announce the launch of the Travel Rule Universal Solution Technology (TRUST), an industry-driven solution designed to comply with a requirement known as the Travel Rule while…
Cryptocurrency prices are known to fluctuate - it's a volatile and new asset class. That said, price changes are not indicative of the overall interest or adoption of crypto. On January 19, 2022 Paxos CEO and Co-Founder Charles Cascarilla sat down with CNBC's Squawk on the Street to discuss the market and how investors should consider evaluating its potential.
Operation reinforces the company's presence in the crypto universe, boosting its development and adoption in the region. Paxos powers the Mercado Pago cryptocurrency transaction experience for its Brazilian users. MONTEVIDEO,…