Paxos

Hashnote Elevates Collateral Efficiency for PayPal USD With Paxos

Retrieved on: 
Tuesday, March 26, 2024
Software, Banking, Networks, Accounting, Internet, Professional Services, Blockchain, Fintech, Technology, Other Professional Services, Finance, Other Technology, United States Treasury security, Commodity pool operator, Cayman Islands, CPO, Partnership, DRW, Financial services, CFTC, Paxos Trust Company, CIMA, Paxos, PayPal, Treasury, Cryptocurrency

USYC token yield is backed by investment in US Treasury Bills, repurchase (repo), and reverse repurchase (reverse-repo) agreements.

Key Points: 
  • USYC token yield is backed by investment in US Treasury Bills, repurchase (repo), and reverse repurchase (reverse-repo) agreements.
  • Earlier in 2023, Paxos expanded its product lineup to include PayPal USD (PYUSD).
  • The partnership between Hashnote and Paxos substantially raises the cap on immediate minting and redemption, ensuring sufficient liquidity for even the largest institutions.
  • The Paxos and Hashnote partnership embodies a collaboration between companies focused on cryptocurrencies within a regulatory and security framework that benefits customers globally.

Bank of America Digital Transformation Strategy Analysis Report 2023: Accelerators, Incubators, and Other Innovation Programs

Retrieved on: 
Monday, February 5, 2024
Bank of America, Incubator, Private banking, Retail, Digital, Risk management, Wealth, Consumer, International finance, Investment, Investment management, Artificial intelligence, Commercial bank, Retail banking, C2B, Acquisition, Bank, Paxos, ICT

DUBLIN, Feb. 5, 2024 /PRNewswire/ -- The "Bank of America - Digital Transformation Strategies" company profile has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Feb. 5, 2024 /PRNewswire/ -- The "Bank of America - Digital Transformation Strategies" company profile has been added to ResearchAndMarkets.com's offering.
  • This report provides insight into BofA's fintech activities, including its digital transformation strategies, its accelerators, incubators, and other innovation programs, its technology initiatives, investments, acquisitions and its estimated ICT budget.
  • Bank of America Corporation (BofA) offers a wide range of financial products and services to retail customers, companies, and institutions through its eight lines of business.
  • As a part of the digital transformation, Bank of America launched its Global Digital Disbursements services for its commercial clients in Canada.

Solana Network Unveils Token Extensions: Empowering Financial Institutions and Enterprise-Grade Businesses to Enter Web3

Retrieved on: 
Wednesday, January 24, 2024
Transfer, Health, SAN, Trust, Name, Paxos, Ecosystem, Growth, Credentialing, Stripe, Blockchain, GMO, RWA, Visa, Cryptocurrency

SAN FRANCISCO, Jan. 24, 2024 /PRNewswire/ -- The Solana Foundation, a non-profit organization dedicated to the Solana network's decentralization, adoption, and security, today announced the launch of token extensions – the next generation of the SPL Token standard that represents a significant leap forward in what is possible to build on blockchain.

Key Points: 
  • Token extensions are a comprehensive suite of turnkey solutions tailored to meet the needs of businesses moving onchain – arming developers, enterprises, financial institutions, and Solana-native development teams with ready-to-use advanced token functionality.
  • "Token extensions build on the characteristics that make Solana the ideal destination for developers," said Anatoly Yakovenko, co-founder of Solana and CEO of Solana Labs.
  • "Solana is the first network to offer this level of integrated developer and user experience in a single token program.
  • "The Solana network is the blockchain of choice for enterprise-grade companies looking to enter the web3 space," said Sheraz Shere, Head of Payments at the Solana Foundation.

Embracing Crypto is No Longer an Option, But A Necessity for the Future of Finance says PayBito Chief Raj Chowdhury

Retrieved on: 
Wednesday, December 20, 2023
Crypto, Attitude, Paxos, Blockchain, PALO, Cryptocurrency

PALO ALTO, Calif., Dec. 20, 2023 /PRNewswire-PRWeb/ -- The report reveals that 99% of the US financial service focuses more on crypto projects compared to previous years. It based its data on 400 executives from the United States-based financial services with a minimum $50 billion annual payments volume or $50 billion assets under management.

Key Points: 
  • PayBito Chief Raj Chowdhury highlights the key findings of the survey report titled "2023 Enterprise Digital Asset Adoption Report" by Crypto Firm Paxos.
  • "it is amply clear now that enterprises are developing a more positive attitude towards blockchain technology and digital assets.
  • Though some firms have expressed inhibitions, I am confident that these inhibitions are temporary and will fade away."
  • PayBito CEO Raj Chowdhury feels optimistic after reading the revelations of the Paxos survey report.

Paxos Receives In Principle Approvals from the Financial Services Regulatory Authority to Issue Stablecoins and Conduct Digital Asset Services from the Abu Dhabi Global Market

Retrieved on: 
Wednesday, November 29, 2023
United States dollar, Monetary Authority of Singapore, FSRA, Money, Trade-weighted US dollar index, Commerce, KYC, Abu Dhabi Global Market, Freedom, AML, Prudential, Cryptocurrency, Paxos

Upon receiving full approval, Paxos will continue to expand the global footprint of their regulated USD-backed stablecoins.

Key Points: 
  • Upon receiving full approval, Paxos will continue to expand the global footprint of their regulated USD-backed stablecoins.
  • The company's commitment to transparency, accountability and integrity is exemplified by its adherence to regulatory compliance and proactively seeking oversight.
  • Stablecoins issued with prudential oversight from established and reputable regulators represent a significant step towards democratizing access to commerce and financial services.
  • Paxos consistently pursues growth in global markets within regulated frameworks and engages with regulators to help inform digital asset rules.

Paxos Receives In Principle Approval from MAS for New Entity that Will Issue USD-Backed Stablecoin in Singapore

Retrieved on: 
Thursday, November 16, 2023
United States dollar, Monetary Authority of Singapore, Payment, Money, Trade-weighted US dollar index, Commerce, Paxos, Payment Services Act 2019, IPA, MAS, KYC, AML, Cryptocurrency

SINGAPORE, Nov. 15, 2023 /PRNewswire/ -- Paxos, the leading regulated blockchain & tokenization infrastructure platform, secured in principle approval (IPA) from the Monetary Authority of Singapore (MAS) for its new Singapore entity, Paxos Digital Singapore Pte. Ltd. to offer digital payment token services. Paxos Digital Singapore will issue a new US dollar stablecoin that MAS has acknowledged to be substantively compliant with MAS' proposed stablecoin regulatory framework, in advance of the legislative framework coming into force. Upon receiving full approval, Paxos will be able to partner with enterprise clients to issue the USD-backed stablecoin in Singapore.

Key Points: 
  • First expansion into Asia of a US dollar stablecoin platform, substantively compliant with MAS' upcoming stablecoin framework
    SINGAPORE, Nov. 15, 2023 /PRNewswire/ -- Paxos, the leading regulated blockchain & tokenization infrastructure platform, secured in principle approval (IPA) from the Monetary Authority of Singapore (MAS) for its new Singapore entity, Paxos Digital Singapore Pte.
  • Paxos Digital Singapore will issue a new US dollar stablecoin that MAS has acknowledged to be substantively compliant with MAS' proposed stablecoin regulatory framework, in advance of the legislative framework coming into force.
  • Upon receiving full approval, Paxos will be able to partner with enterprise clients to issue the USD-backed stablecoin in Singapore.
  • Paxos is at the forefront of ushering in a new era of stablecoin utility and mainstream adoption.

Recharge Capital Taps Bridgewater Associates Singapore Executive Margaret Wang as Managing Partner

Retrieved on: 
Monday, September 18, 2023
Professional Services, Health, Consumer, Women, Finance, General Health, Rhea, Head, PayPal, Digital Production Partnership, Paxos, Squarespace, Wang, Goldman Sachs, Recharge, Fertility, Capital, Bridgewater Associates, Apple, Growth, Merrill (company), ChowNow, NYSE, Management

Recharge Capital, the leading $6B thematic-first private investment firm, today announced former Executive Director and Head of Bridgewater Associates Singapore, Margaret Wang, has been appointed Managing Partner focused on leading its Women’s Health Strategy.

Key Points: 
  • Recharge Capital, the leading $6B thematic-first private investment firm, today announced former Executive Director and Head of Bridgewater Associates Singapore, Margaret Wang, has been appointed Managing Partner focused on leading its Women’s Health Strategy.
  • Wang joins Recharge Capital with experience in senior leadership positions at global asset managers and financial services firms.
  • “Margaret’s appointment is a catalytic moment for our firm,” said Lorin Gu, Founding Partner of Recharge Capital.
  • Recharge Capital operates from its offices in New York and Singapore, serving as a catalyst for positive change in the global investment landscape.

Paxos Regulated Stablecoin Platform Reaches Five-Year Milestone, Has Issued $120B+ in Stablecoins

Retrieved on: 
Tuesday, September 19, 2023
Ethereum, USDP, Paxos Trust Company, Financial services, PayPal, Mercado Libre, Prudential, Finance, New York State Department of Financial Services, Interactive Brokers, Mastercard, Nubank, Ecosystem, Safety, Bankruptcy, Cryptocurrency, Blockchain, Paxos

NEW YORK, Sept. 19, 2023 /PRNewswire/ -- Paxos, the leading provider of blockchain infrastructure for enterprises, celebrates the five-year anniversary of its regulated stablecoin platform.  Over the past five years, the company has issued and redeemed more than $120 billion in USD-backed stablecoins across its offerings while setting the market standard for regulatory oversight. All Paxos stablecoins have been issued from the company's New York trust with prudential oversight from the New York State Department of Financial Services. 

Key Points: 
  • All Paxos stablecoins have been issued from the company's New York trust with prudential oversight from the New York State Department of Financial Services.
  • The Paxos platform empowers our enterprise partners to enable payments, settlement, remittances and other real world use cases of stablecoins for hundreds of millions of end users.
  • The Paxos stablecoin platform leverages Ethereum and will expand into multiple other blockchains as it helps to create a more open, accessible economy for all.
  • Paxos stablecoins USDP and PYUSD are issued by Paxos Trust Company and regulated by the New York Department of Financial Services.

PayPal Launches U.S. Dollar Stablecoin

Retrieved on: 
Monday, August 7, 2023
Ethereum, Central bank, Developer, Paxos Trust Company, Financial services, Friends, Cryptocurrency, Consumer, PYPL, Certified Public Accountant, American Institute of Certified Public Accountants, Paxos, NYDFS, USD, Community business development corporation, AICPA, BitLicense, New York State Department of Financial Services, United States Treasury security, Friction, Merchant, SAN, Comprehension, Growth, Ecosystem, American Institute, Family, O'Hara, U.S. Treasury, Treasury, Security (finance), Online shopping, PayPal, Venmo

SAN JOSE, Calif., Aug. 7, 2023 /PRNewswire/ -- Fully-backed, regulated stablecoins have the potential to transform payments in web3 and digitally native environments. To address that emerging potential, PayPal (NASDAQ: PYPL) today announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD).  

Key Points: 
  • To address that emerging potential, PayPal (NASDAQ: PYPL) today announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD).
  • Starting today and rolling out in the coming weeks1, eligible U.S. PayPal customers who purchase PayPal USD will be able to:
    "The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar," said Dan Schulman, president and CEO, PayPal.
  • As the only stablecoin supported within the PayPal network, PayPal USD leverages PayPal's decades-long experience in payments at scale, combined with the speed, cost and programmability of blockchain protocols.
  • Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal at a rate of $1.00 per PayPal USD.

Paxos Offers Brazilian & Latin American Enterprises Safe, Regulated Access to Digital Assets

Retrieved on: 
Wednesday, May 31, 2023
Blockchain, Partnership, Central bank digital currency, USDP, Paxos Trust Company, Financial services, Central bank, Mercado Libre, Risk management, LBMA, Appetite, Public sector, Central Bank of Brazil, Gold, Mastercard, Growth, SAO, Safety, Cryptocurrency, Paxos, Nubank

NEW YORK and SAO PAULO, May 31, 2023 /PRNewswire/ -- Paxos, the regulated blockchain infrastructure and tokenization platform for enterprises, continues driving the growth of digital assets in Brazil and broader Latin America through its partnerships with leading local, regional, and global enterprises.

Key Points: 
  • Global enterprises choose to partner with Paxos on their digital asset strategy as Paxos has built oversight, risk management and corporate controls into all aspects of its operations.
  • Arnoldo Reyes, Head of Latin America of Paxos, added, "The appetite and pace of Brazilian consumers adopting digital asset products and services continues to accelerate.
  • Brazilian consumers today can rely on the quality and safety of Paxos' regulated tokens Pax Dollar (USDP) and Pax Gold (PAXG).
  • Paxos Trust Company is the sole issuer of these digital assets and both are regulated by the New York Department of Financial Services.