2019 was a monster year for Paxos. We launched more products this year than in our entire history combined, we more than doubled the circulation of our tokenized assets under custody and we pioneered innovations in new asset classes. We also made a lot of progress in the ‘platformification’ of many of our products – all in the name of building financial market infrastructure for a new, open financial system where assets can move fast.
The problem we see is that the world’s $600T-worth of assets operate on closed and outdated financial infrastructure that’s slow, expensive and risky – the whole system needs to be modernized before it becomes obsolete. So, we’re modernizing the system by building new financial market infrastructure from the ground up, and building the on-ramps onto these new rails. Come take a walk down memory lane with us and review some of our favorite highlights from this past year.
We expect to grow even more next year in multiple dimensions. Our offerings will expand, new companies will rely on our infrastructure to provide more services to their customers, all of our solutions will serve global customers in new ways. There is a lot in the works and we’re excited to continue building ways traditional financial institutions can access this new digital ecosystem, and ways blockchain companies can interoperate with traditional assets.
Here are a few things we plan to do next year:
- Introduce more Stablecoins as a Service: We’ve already created stablecoins for partners like Binance and Huobi. Next, we’ll create white-label stablecoins for more traditional companies looking to move assets into the digital sphere. Paxos provides customers with the trust and assurance that their money is always safe and protected.
- Build more APIs to connect partners with traditional and digital markets: We introduced our Fiat Gateway Solution and Stablecoin Swap APIs in November. By integrating with these offerings and many more to come, partners will be able to leverage Paxos infrastructure while maintaining their unique customer experience.
- Offer more functionality for existing products: Paxos is a product company – we’re constantly iterating to provide the best experience possible. Soon, customers will see faster transaction speeds and greater capabilities on the Paxos platform and within all of our other products.
We’re on a mission to enable the movement of any asset at any time in a trustworthy way. Follow our journey by visiting www.paxos.com.