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Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$535.3M
Headquarters
New York City, New York
Founded
2012
Paxos operates in the financial technology sector, focusing on blockchain solutions for financial markets. The company provides services related to digital assets and cryptocurrencies, including the Paxos Standard (PAX), a stablecoin pegged to the US dollar for secure transactions, and Paxos Gold (PAXG), a digital token backed by physical gold. Paxos also offers a settlement service designed to improve the efficiency of clearing and settling U.S. securities. Unlike many competitors, Paxos emphasizes partnerships with major financial entities and has a business model that includes transaction fees and custody services for secure digital asset storage. The goal of Paxos is to integrate blockchain technology into traditional finance to enhance transparency, reduce settlement times, and lower costs.
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Total Funding
$535.3M
Above
Industry Average
Funded Over
5 Rounds
Industry standards
Company Equity
Performance Bonus
Payment stablecoins, blockchain and other digital innovations, including tokenization, will enable more efficient money movement across the globe, while ensuring primacy of the U.S. dollar in transactions and trade, executives and other industry experts told lawmakers Tuesday (March 11). During testimony and under questioning by representatives of the House Financial Services Committee, witnesses at the nearly four-hour hearing also contended that it is the private sector — and not a central bank-created CBDC — that will expand financial services and the benefits of digital dollar options to the world at large. Chairman Rep. French Hill, R-Ark., said during his opening remarks: “The evolution of payment stablecoins and their increasing adoption beyond the digital asset ecosystem reflect broader modernization efforts in the U.S. and global payments landscape,” noting that the offerings streamline cross-border payments
Paxos has finalized its acquisition of Finnish company Membrane Finance, which launched the EU-based stablecoin EUROe. This acquisition allows Paxos to become a fully licensed Electronic Money Institution in the EU, based in Finland. Paxos aims to expand its product suite into Europe while ensuring compliance with MiCA regulations, enhancing its globally regulated platform to serve European customers safely and compliantly.
Deribit partners with Paxos to launch Pax Gold futures and options trading.
San Francisco, United States, December 2024 - Paxos, a regulated blockchain infrastructure company, has announced the appointment of Maria Chung as Chief People Officer.
Paxos, a leading blockchain and tokenization infrastructure platform, has joined forces with Standard Chartered to enhance the reserve management of its stablecoins, Global Dollar (USDG) and Lift Dollar (USDL).
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Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$535.3M
Headquarters
New York City, New York
Founded
2012
Find jobs on Simplify and start your career today