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NYDFS Approved: Binance and Paxos New Stablecoin Collab & Paxos Gold-Backed Token
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NYDFS Approved: Binance and Paxos New Stablecoin Collab & Paxos Gold-Backed Token

Crypto exchange giant Binance, and digital asset trust company Paxos recently announced their partnership to launch a USD-backed stablecoin. The announcement comes after the approval from the New York State Department of Financial Services (NYDPS). New York-based exchange and stablecoin operator, Paxos launched a gold-backed Ethereum-based token named Pax Gold (PAXG).

Paxos Launches Blockchain Settlement Platform Following No-Action Relief From SEC
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Paxos Launches Blockchain Settlement Platform Following No-Action Relief From SEC

Paxos Trust Company announced that it will go ahead with the launch of its blockchain-enabled Paxos Settlement Service after receiving No-Action relief from the U.S. Securities and Exchange Commission (SEC).

Paxos—How the Global Financial Crisis Inspired the Creation of the NYDFS-Regulated Stablecoin
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Paxos—How the Global Financial Crisis Inspired the Creation of the NYDFS-Regulated Stablecoin

Charles Cascarilla is the CEO and co-founder of Paxos, a financial technology company working to modernize the financial system by digitizing and mobilizing assets. A traditional hedge fund manager and equity investor, Cascarilla was able to recognize the power of blockchain and the function it could have in revolutionizing the way trade is conducted and settled.

Paxos—Regulated and Rising above Trustless Tether and Lost Libra
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Paxos—Regulated and Rising above Trustless Tether and Lost Libra

In this second part of our interview with Cascarilla, he explains why the PAX stablecoin is ultimately superior to Tether and gives his thoughts on Facebook’s Libra project and the nature of money.

US CFTC Holds Meeting on Stablecoins Joined by Paxos, MakerDAO and JPM Coin Executives
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US CFTC Holds Meeting on Stablecoins Joined by Paxos, MakerDAO and JPM Coin Executives

The United States Commodity and Futures Trading Commission (CFTC) held a meeting earlier this week to study the potential impact of the stablecoin industry. The derivatives regulator met with stablecoin industry experts to understand its future implications.

Alternatives of USDT Gained Wider Merchant Access including Microsoft
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Alternatives of USDT Gained Wider Merchant Access including Microsoft

Currently, BitPay supports Bitcoin, Bitcoin Cash, and Ether Payments. As of recent, the blockchain payment processor will now accept Circle USD, Gemini Dollar, and Paxos Standard Token.

Paxos Discusses BUSD Stablecoin With SEC Following Wells
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Paxos Discusses BUSD Stablecoin With SEC Following Wells

Paxos CEO Charles Cascarilla said the business was "engaged in productive negotiations" with the SEC and will continue to communicate privately.

SEC Drops Stablecoin Probe, Marking a Win for Paxos and the Crypto Industry
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SEC Drops Stablecoin Probe, Marking a Win for Paxos and the Crypto Industry

In a significant move, the SEC has ended its investigation into Paxos' BUSD stablecoin, signaling a potential shift in regulatory stance toward the crypto industry.

PayPal USD (PYUSD) Now Supported on Crypto.com Pay
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PayPal USD (PYUSD) Now Supported on Crypto.com Pay

PayPal USD (PYUSD), issued by Paxos, is now available on Crypto.com Pay, enhancing utility for millions of users.

Binance sees surge in withdrawals amid spooked investors
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Binance sees surge in withdrawals amid spooked investors

Investors have pulled billions from Binance in the past day due to US Securities and Exchange Commission and New York Department of Financial Services action against BUSD and Paxos.

Facebook Taps Coinbase to Offer Custody Services for Novi Digital Wallet Rollout
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Facebook Taps Coinbase to Offer Custody Services for Novi Digital Wallet Rollout

Facebook is launching Novi digital wallet. The social giant has hired Coinbase to serve as a custody partner.

Paxos Trust Company Disagrees With U.S. Securities
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Paxos Trust Company Disagrees With U.S. Securities

Paxos, a stablecoin issuer, received an SEC Wells notice earlier this month and "categorically denies" that BUSD is a securities.

Paxos Identifies Key Opportunities During Crypto Winter
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Paxos Identifies Key Opportunities During Crypto Winter

Blockchain infrastructure provider Paxos has published a report identifying opportunities for crypto projects during the current market conditions, including seeking solutions and partnerships. The report highlights the usefulness of stablecoins while acknowledging the need for greater transparency. Partnerships with businesses addressing real-world needs were also deemed important. The CEO of the Stellar Development Foundation suggested that regulating stablecoins may be necessary to maintain a strong dollar, while a recent Bank of International Settlements report deemed stablecoins a less preferable form of tokenized money.

Paxos’ Blockchain Settlement Platform Goes Live with Settling Credit Suisse and Instinet Trades
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Paxos’ Blockchain Settlement Platform Goes Live with Settling Credit Suisse and Instinet Trades

New York-regulated stablecoin issuer, Paxos, launched its blockchain-based settlement platform, after announcing the service in late 2019. The new service enables settlement of US-listed equity trades between broker-dealers Swiss financial services firm Credit Suisse and Nomura Group-backed Instinet.

Brazil's Fintech Giant Nubank Now Offers Crypto Trading
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Brazil's Fintech Giant Nubank Now Offers Crypto Trading

Sao Paolo-based digital banking giant, Nubank has veered into the cryptocurrency trading ecosystem with initial support for Bitcoin and Ethereum.

Mastercard Enhances Crypto Wallet and Exchange Business
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Mastercard Enhances Crypto Wallet and Exchange Business

Payment giant Mastercard announced Tuesday to enhance its function and experiment for cryptocurrency wallets and exchanges to their clients. The card issuer cooperates with multiple crypto enterprises to convert crypto and traditional fiat money more accessible.

Consumers See Crypto as Investment Tools, Study says
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Consumers See Crypto as Investment Tools, Study says

Consumers in the United States view cryptocurrencies as ideal investment vehicles, according to a new study by Paxos.

Binance, Circle, and Paxos Receive Regulatory Scrut
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Binance, Circle, and Paxos Receive Regulatory Scrut

Stablecoin issuer Circle supplied the NYDFS blockchain evidence claiming Binance's reserves were inadequate to sustain its currency.

BUSD, Paxos, and the Recent Scrutiny of Paxos
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BUSD, Paxos, and the Recent Scrutiny of Paxos

Matrixport's director of research believed Paxos' BUSD supervision was too lax, prompting regulatory attention. Stablecoins are not the goal.

New York Regulatory Authority Approves 8 Cryptocurrencies for Listing and Trading
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New York Regulatory Authority Approves 8 Cryptocurrencies for Listing and Trading

The New York State Department of Financial Services (NYDFS) approved 8 cryptocurrencies for trading, and 10 for custody by licensed entities.

Paxos Gets Nod to Operate Digital Payments Token Services in Singapore
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Paxos Gets Nod to Operate Digital Payments Token Services in Singapore

It is a positive sign for Paxos as it means that the blockchain company is a compliant business and MAS is supportive to it.

Understanding the Profound Impact of Stablecoins on Traditional Finance
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Understanding the Profound Impact of Stablecoins on Traditional Finance

Stablecoin is a compromise on absolute money issuance power and the adoption of disruptive blockchain technology. Stablecoin will have a profound impact on the infrastructure of future financial systems.

Mercado Libre Injects Liquidity into Crypto Firms Paxos & 2TM
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Mercado Libre Injects Liquidity into Crypto Firms Paxos & 2TM

Mercado Libre, a publicly traded retail giant based in Argentina, has injected an undisclosed sum of money into two regional cryptocurrency-focused firms, Paxos and 2TM Group.

Crypto Firms Report Funds Tied Up with Shuttered Signature Bank
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Crypto Firms Report Funds Tied Up with Shuttered Signature Bank

Crypto firms including Coinbase, Paxos, and Celsius have reported funds tied up with Signature Bank, which was shut down by New York regulators due to concerns about systemic risk. While some firms expect to recover their funds in full, others have disclosed only that they had exposure to the bank. Other firms in the crypto industry have reassured customers that they had no exposure to Signature Bank.

Binance to Phase Out BUSD Support by February 2024 Amid Paxos Minting Halt
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Binance to Phase Out BUSD Support by February 2024 Amid Paxos Minting Halt

Binance will discontinue support for Binance USD (BUSD) by February 2024, affecting trading, futures, and loans. Users holding BUSD are advised to convert their assets to other stablecoins or digital assets on Binance, with a 1:1 conversion rate.

Visa Joins Mastercard and PayPal in Turning Bullish for Crypto and Digital Currencies
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Visa Joins Mastercard and PayPal in Turning Bullish for Crypto and Digital Currencies

Shortly after Mastercard showed its hand on its stance on cryptocurrency, Visa published a blog announcing that the payments giant is advancing its approach towards digital currency. PayPal was recently rumored to have partnered with Paxos to provide crypto trading services.

Ripple (XRP) Whale Addresses Reach New All-Time High as Price Surges, Despite Regulatory Unclarity
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Ripple (XRP) Whale Addresses Reach New All-Time High as Price Surges, Despite Regulatory Unclarity

Data suggests that as the number of holders with large amounts of XRP has been rising, also contributed to the coin’s growth.

Crypto OTC Trading Platform B2C2 Launches New Bitcoin-Settled Gold Derivative
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Crypto OTC Trading Platform B2C2 Launches New Bitcoin-Settled Gold Derivative

Cryptocurrency over-the-counter (OTC) trading platform B2C2 created the first gold derivative product, priced and settled in Bitcoin. B2C2 stated that the gold-bitcoin derivative would allow institutional clients to trade gold via its OTC trading operations regulated and licensed by the United Kingdom’s Financial Conduct Authority (FCA).

New York State Trust License - Fidelity’s Step Towards Mass Crypto Adoption?
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New York State Trust License - Fidelity’s Step Towards Mass Crypto Adoption?

Fidelity’s cryptocurrency investment arm, Fidelity Digital Assets (FDAS) has filed for a trust license in the state of New York according to several sources.

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