Blog

“Trust is not an option – it’s a requirement” – Paxos Explains its Unique Approach to Pioneering a New Market

Dan Burstein September 30, 2021

At Paxos, our mission is to build the foundation for a financial system where all assets, from money to commodities to securities, can be digitized and moved securely and instantly. Cryptocurrencies and digital assets represent a “brave new world” in financial services. But just because something is new, does not mean it cannot be trusted. Paxos— a highly regulated financial institution with regulated product lines—was created to address this challenge head- on.

Paxos Supports Interactive Brokers’ Journey into Crypto Markets

Walter Hessert September 13, 2021

In the last year, the interest in cryptocurrencies has exploded. Now, more than ever, people want access to this new asset class through their trusted intermediaries. Sophisticated investors see the value in diversifying portfolios by tapping into new technology.

The Digital Dollar that Always Equals a Dollar – Paxos Standard (PAX) is now Pax Dollar (USDP)

Walter Hessert August 24, 2021

Paxos Standard (PAX) will now be known as Pax Dollar (USDP). The USDP ticker more easily identifies Pax Dollar as a US dollar-backed token. As use cases for stablecoins rapidly expand, the demand for a regulated USD token has grown significantly. Companies and consumers globally are entering crypto markets and need a safe, dollar-based solution. As USDP, everyone will be able to instantly recognize our token as a dollar-backed stablecoin.

Licensing & Registration Are Not Equal to Regulation

Dan Burstein August 6, 2021

At Paxos, we believe the only way to establish and maintain safety and transparency for customers is through rigorous oversight from a prudential regulator. This thesis has unfortunately borne out in the reserve mix for both USDC and USDT (Tether). Both of these tokens’ reserves are backed by a significant amount of non-cash financial instruments. A prudential regulator is crucial to ensuring the integrity of products used in the crypto ecosystem, and neither USDC nor USDT has such a regulator.

A Regulated Stablecoin Means Having a Regulator

Dan Burstein July 21, 2021

Paxos powers the only safe, regulated and liquid stablecoins that are always 100% backed 1:1 by US Dollars. Paxos has a primary regulator and is held to higher standards than other operators. Licensing and registration does not equal regulation.

Paxos CEO Charles Cascarilla at Bitcoin 2021

Allison Whaley June 19, 2021

Paxos attended and sponsored the Bitcoin 2021 conference in Miami, which took place in early June. A wide swath of crypto-interested people attended – beyond retail investors, many financial services companies attended as well, all eager to learn more about the crypto space.

Paxos on Forbes FinTech 50

Becky McClain June 8, 2021

Paxos has been named to Forbes’ FinTech 50 list, which recognizes the most innovative, privately-held startups based in the US.

PAX Gold surpasses 125,000 tokens and $240 Million in Market Cap

Paxos May 25, 2021

It continues to break records and has expanded its leadership position as the largest, most liquid gold-backed digital token. Earlier this month, PAXG surpassed 125,000 tokens and reached a total market capitalization of nearly a quarter-billion dollars. That represents a more than 400% increase in total token supply in only a year’s time.

The Five Attributes of Money, Part II: Openness, the Attribute that Matters Most

Charles Cascarilla April 22, 2021

Of the five main attributes of money, openness is the most important one because it dictates the limit on how many participants comprise the network and therefore how much utility that network can serve. Today’s modern fiat banking system is the dominant system, yet it is still closed to billions of people around the world. Society stands to gain advantages in access, autonomy, privacy, greater innovation and lower fee structures with a more open system system.

trust

How Paxos is the Most Trusted Operator in Digital Asset Infrastructure

Dan Burstein April 1, 2021

Trustworthiness is critical to our business success at Paxos. We believe that by becoming a trusted, regulated, audited infrastructure provider, we can offer the highest levels of safety, protection and security for our clients. We’ve spent years building this oversight and regulatory stack.