When crypto markets are in upheaval, analysts turn to market experts to give perspective on current conditions. Charles Cascarilla turned from equity market investing to focus on crypto soon after the first bitcoin was mined.
Paxos has been at the forefront of crypto and blockchain technology since the market’s inception. However, Paxos was also founded with a deep understanding of and expertise in traditional financial services.
The largest institutions in the world now offer crypto products and capabilities to their customers, demonstrating that crypto is no longer a fleeting trend, but a mainstay in the global economy.
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.
Brazil based Nubank – one of the world’s largest digital banking platforms – announced today it will offer crypto buying, holding and selling capabilities powered by Paxos. We’re thrilled that another 50 million Brazilians will have seamless access to Bitcoin and Ethereum through the Nubank platform. Nubank’s move into crypto represents a strategic move for the company and will further accelerate adoption in the region.
The financial services industry and the digital asset ecosystem have converged. In the last year, there has been more institutional adoption of crypto than ever
The adoption of stablecoins has accelerated rapidly in the last year, with the total outstanding balance of fiat-backed stablecoins reaching $154B as of March 2022.
Paxos is on a mission to enable the movement of any asset, any time, in a trustworthy way. To complete this mission, we are continuing to grow our remote-first team while establishing a presence in new locations. Next stop – Ireland!
As the demand for tokenized gold increases around the world – PAXG token volume increased 81% in Q1 alone – we are working hard to
Paxos is on a mission to redefine financial infrastructure by enabling the trustworthy, instantaneous movement of any asset at any time. Our blockchain-based infrastructure bridges
Paxos CEO and Co-Founder Charles Cascarilla sat down with journalist Matt Leising to discuss how blockchain technology is changing the way money and value moves around the world. They also discussed how blockchain and digital assets will revolutionize the average person’s interactions with the financial system.
Last December, Mercado Pago, the financial services arm of Mercado Libre, launched the ability to buy, sell and hold bitcoin, ethereum and the Paxos-issued US
NYDFS. These two tokens are very similar in design and reserve operations because they are regulated. Paxos and NYDFS agreed to the terms of the token in advance of issuing – this includes the stipulation that USDP and BUSD only be issued by Paxos on the ethereum blockchain at this time.
We’re excited Bank Leumi is the first Israeli bank to offer this capability to consumers and have chosen our platform to enable their solution.
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!
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From Forbes. © 2020 Forbes. All rights reserved. Used under license.
From Fortune. © 2020 Fortune Media IP Limited All rights reserved. Used under license.
From The New York Times. © 2015 The New York Times Company. All rights reserved. Used under license.
