Paxos - Crypto Companies

About Paxos

Paxos is a crypto company headquartered in New York City that was founded in 2012. It operates through Paxos Trust Company, N.A., and provides digital asset brokerage, issuance, custody, and settlement services to enterprise clients. The firm is one of the crypto companies in New York and also has offices in London and Singapore. Paxos issues several U.S. dollar-backed stablecoins, including PayPal USD, Pax Dollar, and Global Dollar, as well as a token backed by gold. It also operates itBit, a bitcoin exchange that the New York State Department of Financial Services licensed as the first of its kind. The firm is overseen at the national level by the Office of the Comptroller of the Currency, and the Monetary Authority of Singapore licensed it as a major payments institution in 2022. Paxos publishes monthly reserve reports on the digital assets it issues. As of April 2021, the company had received $540 million in funding. Its corporate activities and performance are overseen by an independent board of directors. Readers tracking digital asset values can compare live cryptocurrency prices, and the firm is listed in the US crypto firms directory.

Key Facts

Established

2012