Paxos – Ƀitsell X

Paxos Launches New Stablecoin Payments Platform With Stripe as First Customer

October 16, 2024

Paxos, a regulated tokenization infrastructure platform, has unveiled its new stablecoin payments platform, with Stripe as its inaugural customer. This innovative solution powers Stripe’s Pay with Crypto product, enabling merchants to seamlessly accept stablecoin payments. By leveraging Paxos’ comprehensive infrastructure for onboarding, pay-ins, conversions, and payouts, businesses can reduce costs and expand their international reach…
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Paypal’s PYUSD Stablecoin Reaches $1 Billion Market Cap in Just Over a Year

August 26, 2024

On Aug. 26, Paypal’s PYUSD stablecoin hit the $1 billion mark for the first time since its launch in August 2023. Initially rolled out on Ethereum, PYUSD has seen a significant shift, with most of its tokens now issued on Solana. Paypal’s PYUSD Surpasses $1 Billion Market Cap Recent data shows that the market cap…
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Stablecoin Market Expands by $344M in 7 Days, Led by Paypal’s PYUSD Growth

July 17, 2024

While the stablecoin economy experienced tepid growth in June, it expanded by $344.15 million over the past seven days. Paypal’s PYUSD, currently the eighth largest stablecoin by market capitalization, led the growth over the past 30 days, increasing 41.2% to reach $585.25 million. Stablecoin Economy Grows as Bitcoin and Ethereum Prices Rise Bitcoin and ethereum…
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SEC Withdraws Enforcement Action Against Paxos’ BUSD Stablecoin

July 11, 2024

The Securities and Exchange Commission (SEC) has decided to end its investigation into Paxos, a New York-based issuer of stablecoins, suggesting that stablecoins may not be treated as securities in most cases. This decision comes more than a year after the SEC sent Paxos a Wells Notice concerning the BUSD stablecoin, which is backed by…
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Paxos Gains Full Approval From Singapore’s Monetary Authority for Digital Token Services

July 2, 2024

Paxos has secured full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services, positioning Singapore as a key player in Paxos’s global stablecoin operations. The approval permits the issuance of stablecoins compliant with MAS’s forthcoming regulatory framework. DBS Bank Named Main Banking Partner as Paxos Secures MAS Approval Paxos, a…
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Paxos Lays Off 65 Employees Following Yield-Bearing Stablecoin Launch

June 16, 2024

According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce. This development comes on the heels of Paxos International’s announcement of its yield-bearing stablecoin. Paxos Trims Workforce by 20% Bloomberg reports that Paxos has laid off 65 employees, which accounts for 20% of its staff. The information was…
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Former CFTC Chair Christopher Giancarlo Joins Paxos Board of Directors

May 15, 2024

Paxos, a leading regulated blockchain and tokenization infrastructure platform, appointed Christopher Giancarlo, the former Chairman of the United States Commodity Futures Trading Commission (CFTC), to its board of directors on May 14. Giancarlo, a respected figure in the financial services industry and a passionate advocate for blockchain technology brings decades of expertise to Paxos as…
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PAXG Reaches All-Time High Amid Middle East Unrest, Prompting Bitcoin Hedge Discussion

April 15, 2024

PAXG reached an all-time high of $2,855 on April 13 amid the ongoing conflict in the Middle East following the missile and drone attack. PAXG’s price performance over the weekend has led to questions about Bitcoin’s value as a geopolitical hedge. While the PAXG token climbed to its all-time highs, Bitcoin’s price plummeted from $67,140…
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Paxos Secures In Principle Approvals for Stablecoin Issuance and Crypto Services in Abu Dhabi

November 30, 2023

Paxos, a provider of blockchain and tokenization infrastructure, has recently received preliminary approvals from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi. The company stated that these endorsements are crucial steps for Paxos, enabling it to issue stablecoins pegged to the U.S. dollar and introduce crypto brokerage and custodial services in the Abu Dhabi…
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Stablecoin Issuer Paxos Receives Preliminary Nod from Singapore Regulator

November 16, 2023

Source: Paxos Blockchain infrastructure firm Paxos has obtained a preliminary license from the Monetary Authority of Singapore (MAS) for its new entity. With the in-principal approval, Paxos Digital Singapore, the new entity, will offer digital payment token services to Singaporeans. Further, Paxos announced plans to launch a USD-backed stablecoin. In a Thursday statement, Paxos noted…
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