Blog

USDP Chosen for Novi Pilot

Walter Hessert October 19, 2021

USDP, Paxos’ leading regulated stablecoin backed 100% by cash and cash equivalents, is the inaugural stablecoin available in Facebook’s pilot of the Novi digital wallet launched today. This news represents a tide shift in digital assets, as it’s the first time that stablecoins are readily available in a consumer wallet outside of the crypto ecosystem. 

Adding Crypto to Your App? Here’s What You Need to Know

Allison Whaley October 13, 2021

Paxos has been working in crypto since the early days. We built the first institutional Bitcoin exchange and we’ve been growing our regulated product capabilities ever since. We’re building the regulated financial market infrastructure that multinational enterprises with billions in customer assets and global reputations to protect rely upon. We’re seasoned crypto experts and  help partners navigate the complexity of jumping into crypto markets. 

How much is too much? The usual answer: “What’s it worth to you?”

Charles Cascarilla October 12, 2021

Everything is energy, including money, which is just a fungible form of energy. If energy is the ability to do work, money is the fungible ability to make like-for-like decisions about whether to consume energy today or defer consumption by investing that energy.

“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.