Before enterprises can realize the potential benefits of industry-wide tokenization at scale they must consider the token issuer’s technical and regulatory specifics as carefully as they do opportunities for growth and innovation.
In the economy of the not-too-distant future, tokenization will transform how we conduct asset valuations, transactions and ownership verifications. The revolutionary technology behind it encapsulates physical or digital assets as distinct cryptographic tokens on a blockchain.
Cross-border payments, or currency transactions between people and businesses from different countries, are ripe for innovation.
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.
Paxos surveyed 5,000 crypto owners in January 2023 to determine how the 2022 crypto winter and large industry fallouts impacted consumer behavior and confidence in the crypto industry.
The mere mention of a bear market tends to sour both enterprise and consumer outlooks. When viewed historically, bear markets come cyclically, as is the nature of markets. It is worth noting that for every bear market, there normally awaits a bull market teeming with opportunities. Then why are so many of us overwhelmed by the idea of a bear market?
Global financial markets are seeing challenges that require us to reevaluate ways of creating a marketplace that builds consumer confidence. In consumer products, companies are trying to achieve better supply chain transparency which translates into higher sales and enhanced consumer trust.
The financial services industry recognizes blockchain and digital asset technology as powerful tools for the future of finance. But industry shake-ups like the downfall of Terra, the collapse of FTX and Alameda and the ultimate ripple effects created by those failures created a feeling of uncertainty in an already trepid crypto winter.
In my previous post, I outlined the Paxos vision for Web3 technologies and how our engineers are building infrastructure for the future financial system. This long-term vision comes with an understanding that the best has yet to come and our systematic regulation-first approach will yield results in the not-so-distant future.
Recent events in the digital asset marketplace have impacted the industry in ways that were difficult to fathom only months ago. As more facts come into focus, it’s an opportune time to reflect on the road ahead.
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.
In many ways, the last few weeks in the digital asset industry have felt more like a few years. When the history of finance is written, recent events may make up the bulk of last year’s industry headlines, and rightfully so, but it’s also important to highlight other but important events from 2022.
Following the collapse of FTX, many are seizing the moment to push for increased regulatory oversight of digital assets. As voices get louder, the outcome will likely include inroads toward federal legislation for digital assets.
As global crypto markets encounter significant turbulence and many participants continue to feel the ripple effects of recent events, it’s helpful to gain a broader perspective and note that some regions are seeing crypto continuing to thrive, mainly due to a shared public and private commitment behind it.
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
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