Cryptocurrency exchange and stable currency unicorn invested by PayPal: Paxos Technology Solutions

Paxos Technology Solutions LLC, founded by Charles Cascarilla and Rich Teo in 2012, is headquartered in New York City, New York, USA, and has offices in London and Singapore PayPal The world's third largest issuer of stable currency, New York, September 2018 financial service The Authority (NYDFS) approved two stable currencies with 100% USD reserve guarantee: PAX and GUSD, financial technology Paxos is the publisher behind PAX.

The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

Paxos Technology Solutions

Paxos Trust Company is a financial institution and technology company headquartered in New York, specializing in Blockchain , which can digitize and mobilize assets. The company's products include cryptocurrency brokerage services, asset tokenization services and settlement services. Operated by Paxos Bitcoin The exchange ItBit is the first Bitcoin exchange licensed by the New York State Department of Financial Services, which enables the company to become a custodian and exchange for American customers. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

As of April 2021, the company has raised $540 million. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

Paxos Technology Solutions product encyclopedia The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

1. Cryptocurrency Brokerage The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

Paxos provides a cryptographic brokerage service, so customers can bring their customers into the cryptocurrency market. The company manages the regulatory and technical components of cryptocurrency transactions on behalf of its customers. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

2、Paxos Standard The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

Paxos Standard (PAX), launched in September 2018, is one of the first regulated stable currencies in the industry, linked to the US dollar, so 1 PAX=1 USD. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

3、PAX Gold The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

PAX Gold (PAXG) is a digital asset supported by physical gold. Paxos Trust Company is the custodian of PAX gold coins and related physical gold bars. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/paxos.html

4、itBit

ItBit is a digital asset exchange approved by the New York State Department of Finance, which can trade five types of digital assets: Bitcoin (BTC), Ethereum (ETH), Bitcoin cash, LTC and PAX Gold (PAXG).

5、Post-trade Services

Paxos provides post transaction automation services for precious metals and other industries. Services include automation of trade confirmation and settlement between multiple parties.

6. Securities settlement service

In October 2019, the U.S. Securities and Exchange Commission (SEC) approved Paxos to establish stock trading settlement services. Credit Suisse（ Credit Suisse ）And Societe Generale (Soci é t é G é n é rale) is the first to use Paxos services bank 。 Paxos announced that it had settled securities transactions on the blockchain for the first time in February 2020.

Paxos Technology Solutions Financing Encyclopedia

• On November 11, 2013, Paxos Technology Solutions obtained Canaan Partners and RRE Ventures Leading investment, Digital Currency Group And Liberty City Ventures.
• On May 8, 2015, Paxos Technology Solutions obtained Blockchain Capital RRE Ventures , Raptor Group, Liberty City Ventures, Solon Mack Capital, etc.
• On May 31, 2018, Paxos Technology Solutions obtained Jay Jordan RRE Ventures And Liberty City Ventures.
• On December 16, 2020, Paxos Technology Solutions won the lead investment of Declaration Partners in the C-round financing, PayPal $142 million co invested by Ventures, Liberty City Ventures, Mithril Capital Management, RRE Ventures, etc.
• On April 29, 2021, Paxos Technology Solutions won the Oak HC/FT lead investment in the D-round financing, PayPal Ventures、Liberty City Ventures、Mithril Capital Management、 WestCap $300 million of investment.

Paxos Technology Solutions History Encyclopedia

• Charles Cascarilla and Rich Teo established Paxos in 2012 as the itBit Bitcoin Exchange.
• In 2015, the company changed its legal name from itBit to Paxos Trust Company. At the same time, the New York Department of Financial Services granted Paxos a limited use trust charter, making it the first company in the United States to be approved and regulated to provide encryption products and services.
• In September 2018, Paxos launched Paxos Standard stable currency, becoming one of the first regulated stable currencies in the industry. As of December 2020, the market value (circulation) of PAX is US $400 million, and the turnover of 24H is about US $77 million, accounting for 1.66% of the French dollar collateral stable currency (that is, the centralized stable currency), second only to USDT and USDC.
• Paxos launched PAX Gold in September 2019, which is the first regulated gold supported digital token.
• In October 2019, Paxos received a letter from the Securities and Exchange Commission (SEC) to test a new settlement service for stocks listed in the United States on the private blockchain. The service will be launched in February 2020.
• In 2019, Paxos started "agency distribution". With the advantage of compliance, Paxos has received two major exchanges“ Monetary security ”Among the "orders" of "firecoin", BUSD has been issued for one year, and its performance is very strong. According to the statistics of debank.com, the current circulation of BUSD has exceeded PAX. As of 20:00 on December 17, 2020, BUSD had issued 720 million dollars in total.
• In July 2020, Paxos Revolut As the first customer, it launched its encryption brokerage business.
• In October 2020, PayPal announced that it would provide its users with cryptocurrency purchase, holding and sale services through its partnership with Paxos. PayPal cooperates with Paxos to provide encrypted transaction services. Paxos is the second largest business, providing institutions and large customers with compliance (subject to the supervision of DFS of the New York Financial Services Authority) and legal currency for listing rebate - cryptocurrency exchange itBit. Paxos provides transaction services for 346 million active accounts (including more than 26 million merchants) of PayPal through its back.
• On February 24, 2021, the media reported that the stable currency issuer and the crypto exchange Paxos were applying to the Securities and Exchange Commission (SEC) to become a clearing company. If approved, Paxos will become one of the few clearing companies in the United States, joining DTC, option clearing companies, etc. Charles Cascarilla, chief executive officer and founder of Paxos, said that the company had settled in the US stock exchange and hoped to become a complete clearing company.

Paxos Technology Solutions US equity investment

Company official website

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