Paxos Trust Company

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.

Paxos Expands to the Solana Blockchain

Retrieved on: 
Friday, December 22, 2023
Paxos Trust Company, NYDFS, HERE, Financial services, USDP, Cryptocurrency

NEW YORK, Dec. 22, 2023 /PRNewswire/ -- Paxos, the leading regulated blockchain & tokenization infrastructure platform, is pleased to announce a strategic expansion of its stablecoin issuance to the Solana blockchain platform. Previously exclusive to Ethereum, this initiative represents a significant milestone for the innovation and evolution of Paxos's enterprise and consumer-facing businesses. Paxos plans to offer USDP on Solana to the public on January 17, 2024.

Key Points: 
  • NEW YORK, Dec. 22, 2023 /PRNewswire/ -- Paxos, the leading regulated blockchain & tokenization infrastructure platform, is pleased to announce a strategic expansion of its stablecoin issuance to the Solana blockchain platform.
  • Paxos plans to offer USDP on Solana to the public on January 17, 2024.
  • The Solana blockchain offers users rapid transaction rates and lower transaction fees, which makes it a compelling network for US dollar stablecoins and payments.
  • By broadening its reach to Solana, Paxos is reaffirming its commitment to providing seamless and efficient financial solutions in the constantly-evolving blockchain space.

Bitget to List PayPal USD (PYUSD): A New Era of Compliance in Crypto Trading

Retrieved on: 
Tuesday, September 26, 2023
Ethereum, Crypto.com, Paxos Trust Company, Financial services, PayPal, USDC, BitLicense, New York State Department of Financial Services, United States Department of the Treasury, Cryptocurrency, Kraken, Bitget, Coinbase

The daily trading volume stands at an impressive 1.76 million US dollars, with significant contributions from top exchanges worldwide.

Key Points: 
  • The daily trading volume stands at an impressive 1.76 million US dollars, with significant contributions from top exchanges worldwide.
  • "We are excited to welcome PayPal USD to our platform," said Gracy Chen, Managing Director of Bitget.
  • With PYUSD, traders on Bitget can experience the benefits of a stablecoin that blends cutting-edge technology with rigorous compliance standards, all while enhancing their trading experience."
  • The listing of PYUSD on Bitget signifies a pivotal moment in the crypto trading landscape, one that merges cutting-edge technology with rigorous compliance standards, ultimately empowering traders and enhancing the overall trading experience.

Global Crypto Exchange Bybit Lists PayPal's USD Stablecoin for Spot Trading

Retrieved on: 
Monday, September 25, 2023
Ethereum, Web3, Paxos Trust Company, Financial services, PayPal, USD, New York State Department of Financial Services, Formula, USDT, Trust, Treasury, Security (finance), Cryptocurrency, Bybit

Dubai, United Arab Emirates | September 21, 2023 09:14 AM Eastern Daylight Time

Key Points: 
  • Dubai, United Arab Emirates | September 21, 2023 09:14 AM Eastern Daylight Time
    Bybit, the world’s third most visited crypto exchange, is excited to announce the listing of PayPal's groundbreaking USD stablecoin, PYUSD.
  • PYUSD will be paired with USDT and listed for trading on Bybit's spot exchange, providing traders and investors a seamless and secure way to access this unique stablecoin.
  • The integration of PYUSD into the Bybit exchange provides a bridge between the traditional financial world and the burgeoning blockchain ecosystem.
  • “We are pleased to welcome PayPal USD to the Bybit platform,” said Ben Zhou, co-founder and CEO of Bybit.

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.

BitPay Adds Support for PayPal USD (PYUSD) Stablecoin

Retrieved on: 
Tuesday, September 12, 2023
Bitcoin, Ethereum, Treasury, PayPal, BitPay, Paxos Trust Company, MetaMask, Cryptocurrency

ATLANTA, Sept. 12, 2023 /PRNewswire/ -- BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services, today announced it has rolled out PayPal USD (PYUSD) payments for merchants and consumers. Xsolla will be one of the first merchants to accept PYUSD, enabling their customers to buy any merchandise online using the PayPal stablecoin.

Key Points: 
  • ATLANTA, Sept. 12, 2023 /PRNewswire/ -- BitPay , the world's largest provider of Bitcoin and cryptocurrency payment services, today announced it has rolled out PayPal USD (PYUSD) payments for merchants and consumers.
  • Xsolla will be one of the first merchants to accept PYUSD, enabling their customers to buy any merchandise online using the PayPal stablecoin.
  • The update to BitPay merchants and BitPay app holders automatically adds PYUSD to the mix of supported cryptocurrencies.
  • Customers have the option to make payments from their BitPay Wallet, their PayPal Wallet, Metamask, or any compatible Ethereum wallet.

This Week in Finance News: 12 Stories You Need to See

Retrieved on: 
Friday, August 11, 2023
KeyBank, Bank of America, Fed, Clearwater Analytics, Optimism, PR, Paxos Trust Company, Education, Hardship, Fannie Mae, Consumer, HBCU, PayPal, St. Louis Fed Financial Stress Index, Communication, Woman, NIL, Student, Unemployment benefits, Heel, Corporation, PR Newswire, Bank, Retirement, Office of the Supervising Architect for the U.S. Treasury, Treasury, Cryptocurrency, Management, Fintech

NEW YORK, Aug. 11, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.

Key Points: 
  • NEW YORK, Aug. 11, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire.
  • To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.
  • The list below includes the headline (with a link to the full text) and an excerpt from each story.
  • Click on the press release headlines to access accompanying multimedia assets that are available for download.

The Week in Press Releases: 10 Stories You Need to See

Retrieved on: 
Friday, August 11, 2023
Kroger, Database, PPD, Corporate Affairs, Music, Collection, Pregnancy, Paxos Trust Company, Starbucks, PayPal, Related, Kellogg's, Victoria's Secret, Eli Lilly, Subject-matter expert, PR Newswire, United, Fox Corporation, Treasury, Unemployment benefits, Television, Feeding America, Lucid Air, Secrecy, Mail, News, O'Hara, U.S. Treasury, Wendy's, Geography, Tunnel, Mobile phone, Publishing, Target, Subway

NEW YORK, Aug. 11, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major stories from the week that shouldn't be missed.

Key Points: 
  • A roundup of the most newsworthy press releases from PR Newswire this week, including a Pop-Tarts x Crocs collab and PayPal's stablecoin launch.
  • NEW YORK, Aug. 11, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire.
  • Click on the press release headlines to access accompanying multimedia assets that are available for download.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines , features regular media news roundups, writing tips, upcoming events, and more.

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.