We have posted an updated version of our privacy policy that is effective August 29, 2023. You can review the updated version of our privacy policy here.
Paxos received direction from US Federal Law enforcement to freeze Paxos-issued assets associated with four ethereum addresses. In compliance with the request, Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million.
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.
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.
Cryptocurrencies, or crypto, is a burgeoning, fast-paced and constantly evolving asset class. We witnessed companies that recently launched crypto services benefit from increases in top-line revenues, company valuation, user engagement, and customer retention. Before your business dives in to capture these advantages, we want to help answer some of the most commonly asked questions from companies inquiring about crypto. We hope this perspective can also help empower your company’s strategy moving forward.
Paxos is powering PayPal’s new service enabling its US users to buy, hold and sell cryptocurrency directly from their PayPal digital wallet.
Before starting at Paxos, I had a lot of preconceived notions about working at a company that uses words like crypto and blockchain to describe products. These notions caused a…
The spot price of gold has increased more than 20% since a year ago, making many traders and investors interested in owning the asset. We have seen that growing interest…
© 2024 Paxos Trust Company, LLC All Rights Reserved. NMLS #1766787
