We’re proud to share that Prex - a leading Latin American digital banking platform providing financial products and services - will soon offer cryptocurrency buying, selling and holding capabilities for their 700,000 Uruguayan customers, with additional markets coming in 2022.
Custody is a commonly used term in financial services and refers to the holding and safekeeping of assets, such as dollars or gold. Crypto custody is about holding cryptographic keys (which you can think of as passwords that unlock crypto wallets), and is typically handled through “cold” or “hot” wallets.
In one year alone, the size of the crypto market has grown 537%. You’d be hard pressed to find another market that has grown so quickly and has captured the attention of both retail and institutional investors.
Last last night, on November 8, 2021, Bitcoin hit an all-time price high of $68,521. In the very short span of 12 years, Bitcoin has entered the world and become one of the most attractive assets as a store of value. But what actually is Bitcoin? Let's take a moment to review!
October 2021 marked the first time Paxos hosted a booth Money20/20 USA - the preeminent conference that brings leaders from financial institutions and technology providers to Las Vegas in order to learn more about what the future of fintech holds.
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.
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.
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.
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.
Blockchain is a distributed, digital, public ledger that can record transactions and track the movement of assets between parties without a central clearing authority.
This article is the first in a six-part series about the basics of crypto from Paxos. Stay tuned for more lessons on the world of blockchain and crypto markets. Bitcoin…
NEW YORK and LONDON, Sept. 22, 2021 /PRNewswire/ -- Paxos, the first regulated blockchain infrastructure platform, today announced it has enabled silver, platinum and palladium on the Paxos Settlement Service for commodities and now services…