Tagged: paxos

October 19, 2025 @ 4:12 pm By Omar Faridi  |  

Paxos reported earlier this week that it mistakenly minted excess PYUSD as part of an internal transfer. Paxos confirmed that it immediately identified the error and burned the excess PYUSD. According to the company, this was simply an “internal technical error” and that there was… Read More

October 13, 2025 @ 8:43 am By Omar Faridi  |  

Paxos has noted that stablecoins are becoming core infrastructure for the global financial sector. They aim to enable faster settlement, economical cross-border payments as well as efficient on- and off-ramps between traditional and digital markets. Paxos pointed out that as adoption accelerates, so do the… Read More

August 11, 2025 @ 9:22 pm By Omar Faridi  |  

Paxos, a regulated blockchain infrastructure and tokenization platform, announced that it has filed an application to convert its New York Department of Financial Services (NYDFS) trust charter into a national trust charter under the supervision of the Office of the Comptroller of the Currency (OCC)…. Read More

August 9, 2025 @ 10:33 am By Omar Faridi  |  

New York State Department of Financial Services Superintendent Adrienne A. Harris announced that Paxos Trust Company will pay a $26.5 million penalty to New York State for the alleged ‘failure to conduct sufficient due diligence of its former partner, Binance, and systemic failures in Paxos’s… Read More

July 2, 2025 @ 9:01 am By Omar Faridi  |  

Global Dollar (USDG), a global stablecoin regulated by EU’s Markets in Crypto-Assets (MiCA), the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS), is launching to consumers across the European Union this week. Backed by Global Dollar Network (GDN) and issued by… Read More

June 20, 2025 @ 4:38 pm By Omar Faridi  |  

Paxos Labs, a start-up whose mission is to make on-chain products and DeFi markets more accessible, is announcing its launch. Paxos Labs enables partners to bring financial products to market and manage them at scale with “integrated risk management, liquidity optimization and seamless distribution.” Incubated… Read More

June 12, 2025 @ 4:38 pm By Omar Faridi  |  

PayPal (NASDAQ: PYPL) announced plans to make the PayPal USD (PYUSD) stablecoin available on the Stellar network pending regulatory approval by the New York State Department of Financial Services (NYDFS). Stellar is a blockchain designed for “fast, low-cost payments and real-world utility.” By potentially expanding… Read More

April 22, 2025 @ 7:46 am By Omar Faridi  |  

Circle and BitGo are preparing to apply for U.S. bank charters, according to a Wall Street Journal report. The report also indicates that digital assets firms Coinbase (NASDAQ:COIN) and Paxos are exploring similar paths, driven by evolving stablecoin regulations and a shifting political landscape under… Read More

March 24, 2025 @ 9:28 am By Omar Faridi  |  

Global Dollar Network, an open network designed to accelerate and reward global stablecoin adoption, announced that Global Dollar (USDG) is now available for trading across more than ten digital asset exchanges. These listings expand the accessibility and liquidity of USDG, “offering users enhanced trading opportunities.”… Read More

March 21, 2025 @ 8:24 am By Omar Faridi  |  

The digital payments landscape is undergoing a major shift, which is being driven by blockchain technology and the rise of stablecoins. In a testimony before the U.S. House Committee on Financial Services, Charles Cascarilla, CEO and Co-Founder of Paxos, underscored the urgent need for the… Read More

February 26, 2025 @ 8:23 am By Omar Faridi  |  

Global Dollar Network, an open network designed to accelerate and reward global stablecoin adoption, announced that Global Dollar (USDG) is now available on the Solana blockchain. This expansion reportedly brings the benefits of a stablecoin that offers “fast, low-cost, 24/7 transactions and reward-sharing for network… Read More

February 5, 2025 @ 7:30 am By Omar Faridi  |  

Paxos, the blockchain and tokenization infrastructure platform, announced it has completed its acquisition of Membrane Finance, an Electronic Money Institution (EMI) based and licensed in Finland. The acquisition received regulatory approval, “making Paxos a fully licensed EMI” in Finland and the EU. Paxos issues USD-backed… Read More

January 9, 2025 @ 10:54 am By JD Alois  |  

FV Bank adds PYUSD, PayPal’s stablecoin offering, to its list of accepted transfer and payment services. FV Bank is a licensed US bank based in Puerto Rico – a jurisdiction with somewhat different compliance rules. FV Bank notes that it is the only US bank… Read More

December 12, 2024 @ 7:49 am By Omar Faridi  |  

Paxos, the regulated blockchain and tokenization infrastructure platform, has partnered with Standard Chartered to enhance Global Dollar (USDG) and Lift Dollar (USDL) reserve management. Through this collaboration, Standard Chartered will provide cash management, trading, and custody services, strengthening the infrastructure supporting the “trusted” digital assets… Read More

November 20, 2024 @ 7:35 am By Omar Faridi  |  

Paxos, a regulated blockchain and tokenization infrastructure platform,  announced it has agreed to acquire Membrane Finance, an Electronic Money Institution (EMI) based and licensed in Finland. The acquisition is subject to “regulatory approval.” After the completion of the acquisition, Paxos will be a “fully licensed”… Read More

November 4, 2024 @ 8:40 am By Omar Faridi  |  

Charles Cascarilla, CEO and co-founder of Paxos, noted in an open letter to Vice President Kamala Harris and Former President Donald Trump that the next presidential administration will determine whether America continues to lead the global financial industry or forfeits that leadership. Cascarilla said the US is at risk of becoming the “Rust… Read More

November 3, 2024 @ 7:18 pm By Tony Zerucha  |  

Paxos, a blockchain and tokenization infrastructure platform, has introduced Global Dollar (USDG) – a US dollar-backed stablecoin that Paxos said is “substantively compliant with MAS’ upcoming stablecoin framework.” Paxos Digital Singapore Pte. Ltd. is the issuer of USDG and is regulated by the Monetary Authority… Read More

October 17, 2024 @ 7:24 pm By Omar Faridi  |  

Paxos recently revealed that it’s planning an expansion to the Stellar Network which would be in collaboration with the  Stellar Development Foundation. Paxos confirmed that it will integrate with the Stellar network, which is desribed as an open-source blockchain that’s used for a range of… Read More

October 16, 2024 @ 5:24 pm By Omar Faridi  |  

Paxos, the regulated blockchain and tokenization infrastructure platform, introduced its new stablecoin payments platform. Stripe’s Pay with Crypto product is powered by Paxos’ stablecoin payments infrastructure, making it easier for merchants to accept stablecoin payments. As a regulated provider of blockchain infrastructure, Paxos’ stablecoin payments… Read More

October 6, 2024 @ 6:21 pm By Omar Faridi  |  

In the second edition of “Stablecoin Policy 101,” digital assets firm Paxos take a careful look at the landscape for stablecoin regulation in the United States, examining state versus federal regulation of stablecoin issuers as well as the overall impact each regulatory pathway has on… Read More