pax
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.
Argentina Believes in Bitcoin and Cryptocurrency as Most Effective Hedge Against Inflation, Paxful Survey
Over 70% of Argentines see cryptocurrency, particularly Bitcoin as the most effective way to hedge against inflation and store financial value
Binance Initiates Stake Reduction in South Korean Exchange Gopax to Comply with Regulatory Norms
Binance plans to reduce its majority stake in South Korean crypto exchange Gopax to address regulatory compliance issues, following its acquisition in early 2023.
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
PayPal USD (PYUSD), issued by Paxos, is now available on Crypto.com Pay, enhancing utility for millions of users.
Paxos Launches Yield-Bearing Stablecoin on Injective (INJ)Network
Paxos introduces Wrapped Lift Dollar (wUSDL) on the Injective (INJ)Network, offering users a stablecoin that earns yield from treasury bills, enhancing DeFi interactions.
Paxos Expands to Stellar Network, Enhancing Global Stablecoin Adoption
Paxos announces integration with the Stellar network at Meridian 2024, aiming to boost institutional adoption of stablecoins and enhance global financial accessibility.
Paxos Launches USDG Stablecoin with Regulatory Compliance
Paxos introduces USDG, a US dollar-backed stablecoin, compliant with Singapore's MAS framework. Partnering with DBS Bank for secure reserve management, USDG aims to enhance global stablecoin adoption.
Paxos Introduces USDG and Global Dollar Network for Stablecoin Advancement
Paxos unveils USDG, a US dollar-backed stablecoin, alongside the Global Dollar Network to boost stablecoin adoption globally, according to Paxos.
Former CFTC Chair Giancarlo Joins Paxos Board Amid Expansion Efforts
J. Christopher Giancarlo, former CFTC chair and crypto advocate, joins Paxos board as the company expands its digital asset offerings and regulatory oversight.
Paxos and Standard Chartered Enhance Stablecoin Reserve Management
Paxos partners with Standard Chartered to advance stablecoin reserve management, strengthening digital asset infrastructure and regulatory compliance across global markets.
Is Bitcoin in India about to Boom? Paxful Survey Projection
Paxful, the peer-to-peer bitcoin marketplace, has released a survey that indicates India’s enthusiasm for Bitcoin has been reignited following the landmark decision to lift the ban on crypto trading.
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.
Exclusive: Arbitrage - the Key Business Opportunity Brought by Blockchain
Following the latest update of Paxful, Ray took a step back and shared to us his inspiration to set up Paxful and what he learnt from 11 failed startups! He then identified arbitrage as the key business opportunities by blockchain and instead of decentralization, peer to peer should be the core value preposition of Bitcoin!
OFAC to Begin Sanctioning Companies Facilitating Ransomware Payments
The OFAC may begin sanctioning US nationals and institutions that help facilitate payments in a ransomware attack.
Russian Citizens Are Using P2P Bitcoin Markets to Escape Monolithic Banking System
Crypto usage is growing in Russia, despite attempts by the government to make investment more difficult.
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
Paxos, a stablecoin issuer, received an SEC Wells notice earlier this month and "categorically denies" that BUSD is a securities.
How to Leverage FinTech Opportunities in Africa
Insights from Paxful on FinTech opportunities in Africa!
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.
Bitcoin Access in East Africa Boosted by Paxful
Paxful a Bitcoin peer-to-peer platform seeks to propel Bitcoin Access in East Africa by educating the populace about Bitcoin and peer-to-peer financing.
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.
Binance CEO reportedly made a secret visit to South Korea
Binance CEO Richard Teng reportedly made a secret visit to South Korea to negotiate with financial authorities regarding the "Gopax" issue. The details and outcome of the negotiations are currently unknown.
Paxful Addresses Security Breach Rumors And Says Customer Data Is Safe
Paxful has downplayed the significance of a data breach that saw the private information of 4.8 million of its customers accessed online, saying that the information is fake.
Paxful Exits Venezuela’s P2P Crypto Bitcoin Market Following US Sanctions
Paxful has withdrawn its crypto trading services from Venezuela after the country was classified as high-risk by the Office of Foreign Assets Control (OFAC).
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.
Paxful CEO: COVID Economic Measures Add Fuel to Peer-to-Peer Bitcoin Renaissance in India
As the impact of the coronavirus pandemic continues to steer Central banks and monetary policy into new and creative directions, the market outlook has been drastically altered to view alternative assets such as Bitcoin as legitimate safe haven assets. Recent developments with the Reserve Bank of India lifting its crypto ban has also triggered a wave of cryptocurrency buying in the emerging economic superpower, and Paxful has been right at its centre.
Paxful Unfreezes Majority of Accounts
Paxful, a peer-to-peer cryptocurrency marketplace, has unfrozen 88% of previously frozen user accounts after suspending operations. The remaining $4.4 million in frozen funds is in the hands of US financial regulators.
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.
Paxful to Boost Financial Inclusion with Its First Crypto Debit Card
Bitcoin trading platform Paxful announced that it will be adding a crypto debit card to its financial services.
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.
Stablecoin Reserves May Be Held in National Banks, US Treasury Office Provides Insight
The OCC announced that national banks and federal savings associations could hold reserves for customers with stablecoin assets.
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
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
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
It is a positive sign for Paxos as it means that the blockchain company is a compliant business and MAS is supportive to it.
Exclusive: Bitcoin - The Killer App in Africa and Latin America?
We are glad to have an in-depth interview with Ray, CEO of Paxful on Paxful’s strategies into Africa and Latin America. He also explained the biggest challenge in driving Bitcoin adoption: how to deal with scammers!
Binance Loans Adds AXS, PENDLE, PAXG, RNDR, and USDC to Flexible Rate Options
Binance adds Axie Infinity, PAX Gold, Pendle, Render, and USD Coin to its Flexible Rate Loans offerings, enhancing its financial services suite.
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.
S. Korean Exchanges to be Held Accountable for LUNA Crash
According to the latest reports from local media platform Newspim, the top cryptocurrency exchanges are now likely to be held accountable for failing to implement measures to protect investors from the crash.
Nigerian Crypto Community Affected by Paxful Shutdown
The closure of Paxful, a peer-to-peer cryptocurrency marketplace, has left the Nigerian crypto community searching for alternatives. Nigeria, ranked eighth in crypto adoption, was significantly impacted by Paxful's pioneering use of peer-to-peer technology. Members of the community expressed concern over the future of crypto marketplaces and the fate of their funds.
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.
Paxful Joins Hands with iProov, Providing Identity Verification
Paxful, a leading peer-to-peer (P2P) crypto trading platform, has selected iProov to revamp user identity verification when onboarding and making transactions.
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
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.
Infinito And Paxful Partner to Accelerate Cryptocurrency Adoption Across the World
Infinito has partnered with Paxful to support cryptocurrency adoption globally.
Paxful Ready to Build on its African Market Success in 2020
Global peer-to-peer (P2P) Bitcoin marketplace, Paxful, believes that the world has much to learn from Africa about the future of the crypto-economy and that 2020 will be a landmark year for the African crypto and blockchain industry.
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.
Making a Difference in Africa: Paxful Unveils Bitcoin Donation Fund to Overcome Coronavirus Pandemic
Paxful aims to provide support in Africa to address the coronavirus outbreak.
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.
Paxful Research Reveals How Nigerians Are Fighting Devaluation of Native Currency Naira with Bitcoin
The current pandemic has led to a devaluation of Nigeria’s native currency Naira and affected how cryptocurrency trades are conducted in the country.
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.
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).
Binance Reveals Why 30 Trading Pairs Where Removed From Its Exchange Platform
The cryptocurrency exchange giant based in Malta, Binance has been outshining Justin Tron who has been renowned for his high marketing skills.
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).
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.