Paxos Trust Company

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.

Flourish Obtains SOC 2 Type 2 Report on Controls Relevant to Security, Availability, and Confidentiality

Retrieved on: 
Tuesday, May 9, 2023
Crypto, LLP, Paxos Trust Company, Organization, Risk management, Certified Public Accountant, American Institute of Certified Public Accountants, SOC, NYDFS, Confidentiality, AICPA, Certification, Broker-dealer, Trust, Digital asset, SOC 2, KPMG LLP, FINRA, RIAS, KPMG, American Institute, Safety, Financial adviser, Audit, Flourish

Receipt of a SOC 2 Type 2 report validates the company’s commitment to data security and confidentiality and is evidence that controls were properly implemented and continuously functioned as expected throughout the period under review.

Key Points: 
  • Receipt of a SOC 2 Type 2 report validates the company’s commitment to data security and confidentiality and is evidence that controls were properly implemented and continuously functioned as expected throughout the period under review.
  • The certification is inclusive of the Flourish Platform and its products, Flourish Cash, its cash management offering, and Flourish Crypto, its cryptocurrency investing offering.
  • Flourish Cash is offered by Flourish Financial LLC, a FINRA-member Broker-Dealer, while Flourish Crypto is offered through Flourish Digital Assets and Paxos Trust Company, a NYDFS trust company and qualified custodian.
  • The company plans to continue to participate in annual examinations to maintain active SOC 2 Type 2 reports.

Galaxy Announces Fourth Quarter, Full Year 2022 Financial Results and Preliminary Results for the First Quarter to Date

Retrieved on: 
Tuesday, March 28, 2023
Bitcoin, Ethereum, USD Coin, GDH, Net asset value, Partner, Debt-to-GDP ratio, GAM, NAV, HUM, Acquisition, EIA, Investment, Mining, Interactivity, Partnership, Decentralized finance, Cloud computing, GM, GIB, Energy mix, Domestication, TSX, Growth, Geothermal energy, PFIC, BMC, International, GT, Ether, Carbon, Dislocation, ETF, Financial result, Family Limited Partnership, Webcast, Partners Capital, Paxos Trust Company, Note, USDC, Senior advisor, Magnetar Capital, Sale, Wind, GPI, Depression, AUM, Immersion, Cryptocurrency, Management, Bank, Video game, Financial adviser, Renewable energy, Security (finance), Credit, Galaxy, Helios

I have never been more confident in our go-forward strategy, businesses, and team," said Michael Novogratz, Founder and CEO of Galaxy.

Key Points: 
  • I have never been more confident in our go-forward strategy, businesses, and team," said Michael Novogratz, Founder and CEO of Galaxy.
  • Financial results exclude impacts from non-cash equity based compensation and completion of the full quarterly valuation process of our investment portfolio.
  • Net loss was $287.8 million for the fourth quarter, compared to net income of $521.3 million in the prior year period.
  • Galaxy Asset Management ("GAM") reported preliminary assets under management ("AUM")4 of approximately $1.7 billion5 as of December 31, 2022, a 14% decrease from September 30, 2022.

Paxos Will Halt Minting New BUSD Tokens

Retrieved on: 
Monday, February 13, 2023
Safety, Paxos Trust Company, USDP, BUSD, NYDFS, Blockchain, Financial services, Cryptocurrency, Paxos

NEW YORK, Feb. 13, 2023 /PRNewswire/ -- Paxos, the leading regulated blockchain and tokenization infrastructure platform, announced it will end its relationship with Binance for the branded stablecoin BUSD. 

Key Points: 
  • Effective February 21, Paxos will cease issuance of new BUSD tokens as directed by and working in close coordination with the New York Department of Financial Services (NYDFS).
  • Paxos Trust, a regulated institution overseen by the NYDFS and audited by a top-four accounting firm, will continue to manage BUSD dollar reserves.
  • All BUSD tokens issued by Paxos Trust have and always will be backed 1:1 with US dollar-denominated reserves , fully segregated and held in bankruptcy remote accounts.
  • New and existing Paxos customers will be able to redeem their funds in US dollars or convert their BUSD tokens to Pax Dollar (USDP), a regulated US dollar-backed stablecoin also issued by Paxos Trust.

Paxos Risk & Liquidity Management Programs Protect Customers During Market Volatility

Retrieved on: 
Thursday, December 15, 2022
Mithril, Blockchain, NYDFS, MTL, Paxos Trust Company, Bank of America, MercadoLibre, Entrepreneurship, PayPal, Bank, Risk management, Credit Suisse, USDP, MTL (transport company), Financial services, Founders Fund, Interactive Brokers, Bankruptcy, Multimedia, Safety, Prudential, Société Générale, MSB, Risk, Cryptocurrency, Security (finance), Nubank, Paxos

Paxos has built oversight, risk management and corporate controls into all aspects of our operations.

Key Points: 
  • Paxos has built oversight, risk management and corporate controls into all aspects of our operations.
  • Paxos' ability to operate and process customer requests consistently speaks to our commitment to our clients and the strength of our risk management.
  • We measure success on our ability to act with integrity, protect customer assets through any market cycle and innovate within regulatory frameworks.
  • Recent market failures only demonstrate what Paxos has always known to be true - size and brand recognition are irrelevant if you do not have robust risk management practices that custody and protect customer assets in legally segregated, bankruptcy protected trust accounts."

PR Blockchain Trade Association Member DLTx ASA, Enters into Business Agreement with Blockchain Moon Acquisition Corp Announcing a Business Combination to go Public

Retrieved on: 
Thursday, October 20, 2022
Bitcoin, Ethereum, LinkedIn, Semantic Web, Hope, Paxos Trust Company, ASA, Twitter, Instagram, Investment, Facebook, Nasdaq, Company, Acquisition, Association, Economics, Social media, GLOBE, Diving, Cryptocurrency

San Juan, Puerto Rico, Oct. 20, 2022 (GLOBE NEWSWIRE) -- PR Blockchain Trade Association Member DLTx ASA, enters into business agreement with Blockchain Moon Acquisition Corp., a special purpose acquisition vehicle, announcing that they have entered into a combined business agreement pursuant to which Blockchain Moon will acquire all of the subsidiaries and substantially all of the assets of DLTx ASA.

Key Points: 
  • San Juan, Puerto Rico, Oct. 20, 2022 (GLOBE NEWSWIRE) -- PR Blockchain Trade Association Member DLTx ASA, enters into business agreement with Blockchain Moon Acquisition Corp., a special purpose acquisition vehicle, announcing that they have entered into a combined business agreement pursuant to which Blockchain Moon will acquire all of the subsidiaries and substantially all of the assets of DLTx ASA.
  • James Haft, Chairman of DLTx, said, DLTxs mission is to be a premiere blockchain and Web3 infrastructure company.
  • To learn more about the Puerto Rico Blockchain Trade Association and its CryptoCurious initiatives, visit www.prblockchain.org or their social media pages: Facebook , Instagram , Twitter or LinkedIn .
  • DLTx is a vertically integrated technology company expanding Web 3 capabilities by deploying blockchain infrastructure at scale across major global industries.

OANDA Launches Crypto Trading Service in the US

Retrieved on: 
Thursday, October 20, 2022
Bitcoin, Ethereum, Citadel, Mithril, Adoption, Nubank, Bank of America, Use, Interactive Brokers, Strategy, Founders Fund, Growth, Hershey Trust Company, Meta, Bank, Paxos Trust Company, Comment, Société Générale, PayPal, FX, Web3, Credit Suisse, NFA, Multimedia, Partnership, Technology, Gold, MercadoLibre, Ecosystem, Internet, Risk management, YOU, Fidelity, Solution, Mastercard, Cryptocurrency, Online shopping, Paxos

The new offering allows US-based investors to spot trade cryptocurrencies on Paxos's itBit exchange through the OANDA mobile platform.

Key Points: 
  • The new offering allows US-based investors to spot trade cryptocurrencies on Paxos's itBit exchange through the OANDA mobile platform.
  • The benefits of trading cryptocurrencies through OANDA are:
    Peace of Mind - OANDA has years of experience and an unparalleled record in offering trading in forex and other derivative instruments around the world.
  • For more information on trading crypto currencies with OANDA visit: https://www.oanda.com/us-en/trading/cryptocurrencies/
    OANDA is also unveiling a new brand identity this week, reflecting the company's evolution and emphasis on enabling smarter trading for its clients.
  • Today, the OANDA group, which includes OANDA Corporation and other subsidiaries of OANDA Global Corporation, provides online multi-asset trading, currency data and analytics to retail and corporate clients around the globe, demonstrating an unrivaled expertise in foreign exchange.

Galaxy Schedules Webcast and Investor Call to Review Third Quarter 2022 Results on November 9, 2022

Retrieved on: 
Wednesday, October 19, 2022
Investor relations, Webcast, Cayman Islands, Galaxy Digital, TSX, Investment banking, Toronto Stock Exchange, Company, Founder, CEO, Ecosystem, GDH, Paxos Trust Company, Cryptocurrency, Mining, Venture, Galaxy

NEW YORK, Oct. 19, 2022 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital", "GDH Ltd." or the "Company") is pleased to announce that it will report third quarter 2022 financial results before the opening of the Toronto Stock Exchange onWednesday, November 9, 2022.

Key Points: 
  • NEW YORK, Oct. 19, 2022 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital", "GDH Ltd." or the "Company") is pleased to announce that it will report third quarter 2022 financial results before the opening of the Toronto Stock Exchange onWednesday, November 9, 2022.
  • A replay of the webcast will be available and can be accessed in the same manner as the live webcast on the Company's Investor Relations website.
  • Through November 30, 2022, the recording will also be available by dialing +1-844-512-2921, or 1-412-317-6671 (outside the U.S. and Canada) passcode:10172419.
  • Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing institutions, startups, and qualified individuals access to the crypto economy.

Mastercard to bring crypto trading capabilities to banks

Retrieved on: 
Monday, October 17, 2022
Professional Services, Blockchain, Technology, Cryptocurrency, Finance, Fintech, Banking, Crypto, Online, Adoption, Paxos, The Harris Poll, Culture, Technology, Woman, Paxos Trust Company, United States Army Command, Control, Communication, Computers, Cyber, Intelligence, Surveillance and Reconnaissance Center, Man, Program, Investment, Partnership, Solution, Acquisition, Industry, Ecosystem, Research, Security, Digital, Compliance, Cryptocurrency, Mastercard

Mastercard today introduces Crypto SourceTM, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers.

Key Points: 
  • Mastercard today introduces Crypto SourceTM, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers.
  • This Crypto Source offering is complemented by Mastercard Crypto SecureTM to bring additional security to the crypto ecosystem and support card issuers in their compliance with complex regulations.
  • The partnership aims for Paxos to provide crypto-asset trading and custody services on behalf of the banks, while Mastercard will leverage its technology to integrate those capabilities into banks interfaces, resulting in a seamless experience for the consumer.
  • Over the past few years, Mastercard has been working alongside its customers and partners to bring new services and capabilities that help make crypto more accessible, safe and secure.

Paxos Settlement Service Nears $50 Billion in Settlement Volume Since Launch of Commodities Hub

Retrieved on: 
Thursday, October 13, 2022
Mithril, Palladium, Paxos, Bank of America, Metal, Movement, Paxos Trust Company, Interactive Brokers, Founders Fund, Conference, Growth, Platinum, Bank, Société Générale, PayPal, Commodity, Credit Suisse, Technology, Silver, MercadoLibre, OTC, Gold, Solution, Cryptocurrency, Nubank

The Paxos Settlement Service for Commodities streamlines the settlement process to handle all complexity for market participants across gold, silver, platinum and palladium.

Key Points: 
  • The Paxos Settlement Service for Commodities streamlines the settlement process to handle all complexity for market participants across gold, silver, platinum and palladium.
  • The Paxos Settlement Hub delivers efficient, cost-effective, safer settlement with full transparency on the movement of both metals and cash in a single user interface.
  • The Paxos Settlement Hub is now an all-encompassing network that, in addition to streamlined settlement, offers the options of simultaneous settlement with other Paxos Settlement customers.
  • The Paxos Settlement Hub for Commodities is the first platform to connect the metals and cash settlement networks.