Paxos News

Crypto community has another reason to celebrate as the U.S. Securities and Exchange Commission (SEC) has dropped its investigation against Hiro Systems, a developer firm integral to the Bitcoin Layer-2 network Stacks. A SEC filing on July 12 revealed that…

The crypto industry notched another win against the U.S. SEC, scoring a de-factor admission that stablecoins are not securities.

Singapore’s largest bank DBS Group will provide custodial services for Paxos as the stablecoin issuer secured full approval from the Monetary Authority of Singapore. DBS Group, the largest bank in Southeast Asia by assets, is venturing into the crypto sector…

Cloud-based multi-asset platform Uphold has begun notifying some of its customers about its decision to suspend support for Tether’s USDT, and Gemini’s GUSD among other stablecoins. Multi-asset trading platform Uphold will cease support for a basket of stablecoins due to…

Paxos has reportedly laid off roughly 20% of its staff, with this decision communicated to the affected employees via email on Tuesday. Crypto publication The Block reported on Wednesday that Paxos co-founder and CEO Charles Cascarilla wrote to employees to…

Former Commodity Futures Trading Commission Chair J. Christopher Giancarlo will join the board of directors at Paxos.

The Aave community is set to vote on a new proposal to remove stablecoins like USDP and GUSD from Aave V2. The Aave community is gearing up to vote on a proposal by ChaosLabs, which suggests deprecating multiple small-cap stablecoins,…

The value of the stablecoin Pax Dollar (USDP), issued by the Paxos Trust Company, experienced a surge to a high of $1.28, triggering the liquidation of $529,000 in USDC for a market participant.  Like regular stablecoins, USDP is designed to…

Leading tokenization platform Paxos has announced its expansion into the Solana blockchain, marking a significant move beyond its previous Ethereum exclusivity. 

Stablecoin issuer Paxos has received in-principle approvals from the Financial Services Regulatory Authority to issue stablecoins in Abu Dhabi. Paxos, a cryptocurrency brokerage firm and stablecoin issuer, has secured two in-principle approvals of the Financial Services Regulatory Authority in Abu…

Blockchain infrastructure company Paxos has received in-principle approval to issue a new stablecoin pegged to the U.S. dollar in Singapore. According to the statement, the asset is fully backed by US currency and cash equivalents. The firm has undertaken to undergo…

A Bitcoin miner who mistakenly received the 19.8 BTC in fees returned the funds to the New York-based regulated blockchain, Paxos. On Sept. 10, a BTC transaction that moved only nearly $2,000 had a payment fee of $500,000. Later, on…

Blockchain infrastructure platform Paxos is said to be behind what appears to be the largest fee paid for one Bitcoin transaction. Paxos, a New York-based regulated blockchain firm behind stablecoins PYUSD, BUSD and USDP, appears to be the entity that…

Binance intends to cease support for the BUSD stablecoin. The move indicates a shift in Binance's operations amidst ongoing legal battles.

PayPal has introduced its stablecoin, PayPal USD (PYUSD), marking its latest foray into digital currency. A global payment platform PayPal launched its own stablecoin on August 7, PayPal USD (PYUSD), making it the first large financial company to do so.…

Sharks and whales have accumulated stablecoins while bitcoin consolidates between $30,000 and $31,000. According to Santiment, DAI and paxos standard (USDP) addresses holding between $100,000 and $10 million stablecoins have risen significantly since June 27. Moreover, the market intelligence platform…