Global #Paxos

The move by Paxos to convert its state-level trust charter into a national trust supervised by the U.S. Office of the Comptroller of the Currency (OCC) is a significant development reshaping the regulated crypto landscape.

Paxos has enhanced its Global Dollar Network by integrating two new members: Amina Bank (a Swiss-regulated institutional bank) and Reap (a Hong Kong-based business payments platform).

Paxos Labs has launched USDG0, an omnichain extension of its regulated, 1:1 dollar-backed stablecoin, USDG.

According to unconfirmed reports, the cryptocurrency firm Paxos is seeking a U.S. trust bank license. This move could significantly broaden its operations and influence in the stablecoin market, though the company has not yet made an official announcement or filing.

PayPal's stablecoin, PayPal USD (PYUSD), appears to have quietly gone live on the Ethereum Layer 2 network Arbitrum.

Paxos has officially launched USDG, a new stablecoin backed by real U.S. dollars, enhancing trust and stability for users.

In an open letter addressed to Vice President Kamala Harris and former President Donald Trump, Charles Cascarilla, CEO and co-founder of Paxos, emphasized the critical need for the next presidential administration to adopt digital assets and reform outdated financial regulations.

In a notable transaction, a wallet linked to Ethereum co-founder Vitalik Buterin, identified as “0x556,” recently made a final deposit of 649 ETH, valued at approximately $1.72 million, to Paxos.

Arbitrum, a leading Layer 2 scaling solution, is set to enhance its offerings with the integration of Paxos's stablecoin issuance and regulated tokenization services.

PayPal's stablecoin, PYUSD, has achieved a significant milestone, surpassing a $1 billion market capitalization last week, according to CoinMarketCap data.

Blockchain technology firm Paxos has received full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services in the country.

Paxos, a notable figure in the stablecoin sector, has introduced a fresh stablecoin called Lift Dollar (USDL) via its subsidiary Paxos International, based in the UAE.