Yes. We are regularly subject to examination by the NYDFS, and independent third-party auditors routinely audit our financials and assess our controls across financial reporting, operations, compliance and information security, amongst other processes. This offers a level of assurance that no matter what products or services we offer ourselves — or power for partners — traditional financial institutions can trust us and work directly with us. Additionally, Paxos works with Withum, a nationally ranked auditing firm, to independently verify that the entire supply of PAX is consistent with USD reserves in Paxos accounts held at U.S. banks. You can review all attestation reports since PAX launched.
Frequently Asked Questions
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You may direct a complaint to the attention of the New York State Department of Financial Services at One State Street New York, NY 10004-1511 or 1-800-342-3736. Please visit www.dfs.ny.gov for information.