US broker Wedbush joins Paxos's blockchain settlement network for stocks
17 Jun 2021 | 13:04 pm
US broker and wealth manager Wedbush Securities has joined Paxos' blockchain settlement network for equities. Wedbush is the fifth financial institution to join Paxos's network, after Credit Suisse, Nomura's Instinet, Societe Generale, and the Bank of America. According to a no-action relief from the SEC, Paxos can add no more than seven participants to its network.
Wedbush Securities Joins Blockchain-Based Paxos Settlement Service
17 Jun 2021 | 13:04 pm
Wedbush Securities has joined the Paxos Settlement Service, the first regulated blockchain stock settlement network powered by Paxos Trust Company. Paxos is a private, permissioned blockchain solution designed to allow two parties to bilaterally settle securities trades directly with each other. The network reduces transaction settlement fees by 70% and significantly reduces clearing capital with a modern margin approach.
NerveNetwork to Participate in the DODO Booster Program, Kicking Off the NVT/BUSD Liquidity Mining Campaign on June 8
07 Jun 2021 | 13:51 pm
NerveNetwork is joining the DODO Booster Program and kicking off a 4-week NVT/BUSD liquidity mining campaign. The pool’s liquidity providers will be rewarded with NVT tokens and DODO tokens. The total value of the mining rewards during the first week will be three times the normal amount, meaning that $22,500 worth of DODO will be up for grabs.
Provide Liquidity for MX/BUSD to Earn CAKE on PancakeSwap
03 Jun 2021 | 15:22 pm
MX holders can now provide liquidity for MX/BUSD trading pair on PancakeSwap to yield CAKE. MX is a decentralized exchange which uses an automated market maker (AMM) model for swapping BEP-20 tokens. There isn’t an order book where you’re matched with someone else. Instead, you trade against a liquidity pool.
Robinhood CEO holds up crypto exchanges as model for faster stock settlement
05 May 2021 | 00:03 am
Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla discussed ways to speed up stock settlement times during a webinar on Tuesday. Paxos runs a T+0 settlement platform that puts securities on a blockchain. Robinhood has seen a spike in users buying crypto, but it remains heavily custodial.
The Weekly Notable Startup Funding Report: 5/3/21 - AlleyWatch
04 May 2021 | 19:13 pm
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 5/1/21 feature funding details for Automox, Honorlock, and twenty-seven other rounds. The AlleyWatch audience is driving progress and innovation on a global scale.
#NYCtech Week in Review: 4/25/21 - 5/1/21 - AlleyWatch
03 May 2021 | 17:11 pm
PulsePoint, the company using real-time data to unlock and activate insights for healthcare marketing, has agreed to be acquired by Internet Brands, an internet holding company that owns and operates sites like WebMD, Fodors, Lawyers.com, Medscape, Martindale, and Flyertalk. PulsePoint was founded in 2013 and was used to build a platform to help healthcare companies identify and activate data-driven insights for their marketing campaigns.
Paxos raises $300 million to build a cryptocurrency infrastructure giant – TechCrunch
29 Apr 2021 | 10:00 am
Paxos has raised $300 million in a Series D funding round led by Oak HC/FT. Investors in the round include Declaration Partners, PayPal Ventures, Mithril Capital, Senator Investment Group, Liberty City Ventures and WestCap. Paxos is now valued at $2.4 billion.
PayPal's Crypto Firm Paxos Raises $300 Million, Plans to Add Major Clients - Decrypt
29 Apr 2021 | 09:56 am
Paxos has raised $300 million in a Series D funding round, bringing the total it's raised to $500 million and valuing the company at $2.4 billion. Paxos' CEO Charles Cascarilla said the new funding will help accelerate Paxos's plans to scale its operations. He added that Paxos plans to add "3-5 participants on the scale of PayPal" in the coming year.
Announcing ALPACA-BUSD Syrup Pool Partnership
26 Apr 2021 | 10:02 am
Alpaca Finance and PancakeSwap have partnered to create a new ALPACA-BUSD pool. As part of the partnership, LPs for the new pool will receive much higher APYs due to bonus CAKE rewards. The rewards will go live at 10am GMT on Wednesday, April 28th. The first day will have the highest rewards.
April 21st Incident Report: Venus BUSD Vault Issue
24 Apr 2021 | 01:45 am
Wault Finance has announced that all users will receive 100% of their deposited BUSD in an airdrop at 4pm UTC on Sunday, April 25th, 2021. This comes after Venus made major changes to its protocol that affected most projects integrated with them, including many of the largest protocols on BSC. Wault will use its team funds to reimburse any and all lost funds resulting from the .01% withdrawal fee.
Paxos Gets Federal Bank Charter From OCC
23 Apr 2021 | 16:59 pm
The Office of the Comptroller of the Currency has granted a federal banking charter to a crypto firm for the third time. Paxos, which applied for the charter in December, has quietly become a powerhouse in the crypto industry. The OCC's decision to bestow another federal charter on Paxos came after the agency's former head, Brian Brooks, stepped down in January.
What is Binance Tradable Stock Tokens? How to Trade Tesla (TSLA/BUSD) on Binance
12 Apr 2021 | 12:24 pm
Binance has announced the launch of a tradable stock contract at zero commission fee allowing traders to trade fractionally tokenized versions of mainstream stocks. The first stock token would be of Elon Musk-led Tesla which would be paired, traded, and fractionalized in Binance USD (BUSD). The decision to include tokenized shares is to offer a wider portfolio to existing customers allowing them to trade traditional stock market without having to leave the platform they are using.
MDEX Updates: Win $50 BUSD on MDEX AMA! Multi-chain expansion on Binance Smart Chain and more!
12 Apr 2021 | 07:03 am
On April 9, 2021, MDEX officially integrated with Binance Smart Chain (BSC). More than half a million USD Total Value Locked (TVL) flowed in 5 seconds after the announcement. MDEX has shown the market potential that lies in cross-chain integration and inter-operability. The grand plan is to achieve multi-asset interoperability amongst Heco, BSC, OKexChain, the Layer-2 network of
DODO Launches BUSD-USDC Liquidity Mining
09 Apr 2021 | 09:43 am
DODO BSC will be enabling liquidity mining for the BUSD-USDC pair on April 9, 2021, at 3:00 PM UTC+8 (Singapore Time). The DODO reward token emission rate for each pool will be 0.05 DODO per block, which translates to approximately 2,880 DODO tokens per day.
Blockchain may change equities trading for good
08 Apr 2021 | 15:36 pm
Credit Suisse and Nomura have cut some US equities trades with the Nomura-owned broker Instinet, using blockchain. Settlement occurred in hours and not the two days needed with the US' Depository Trust and Clearing Corporation, the industry-owned utility that normally settles stock trades. The transactions were a small pilot and only took place because the SEC granted to blockchain specialist Paxos a temporary “no action”
How Paxos is the Most Trusted Operator in Digital Asset Infrastructure | Paxos
01 Apr 2021 | 17:16 pm
Paxos was the first company to secure a New York State Department of Financial Services (NYDFS) Trust Charter for Digital Assets in 2015. Paxos is the only crypto-native company with full access to the US Federal Reserve National Settlement Service (NSS). The service allows Paxos to move money and settle transactions through designated master accounts.
New Brisk Pair Listing on Bitdroplet dApp | RAMP-BUSD
22 Mar 2021 | 10:03 am
Bitdroplet is doing a ‘Brisk Pair Listing’ for RAMP-BUSD on Bitdroplet dApp for the next 10 days. This will result in RAMP/BUSD SIP pair on the front page of Bitdroplets dApp SIP. The community can decide and make this listing permanent by dropping their opinion in Bitdro
PayPal’s Entry to Crypto Followed Long Buildup in Expertise
11 Mar 2021 | 23:04 pm
PayPal became one of the largest companies in the US to enter the market for digital currencies with its announcement last October that it would allow its millions of US users to sell, buy and hold cryptocurrencies. Over the past few weeks, several other companies have announced their plans for cryptocurrencies, ranging from Tesla to Mastercard.
Fueling the Growth of Enterprise Blockchain Products | Paxos
26 Feb 2021 | 19:46 pm
James Hartley, Director of Product Operations at Paxos, has joined the company as part of its 63-strong team of new hires. "I want to deeply understand the main blockchains (Bitcoin, Ethereum, etc), grow the people/products/process on the operations team, and contribute to making the global economy more accessible," he said.
Fedwire resumes operations after hourslong disruption
24 Feb 2021 | 18:51 pm
The US Federal Reserve on Wednesday said its Fedwire Funds, Fedcash and some check clearing services have resumed normal operations after a three-hour disruption to more than a dozen critical central bank payment services forming the backbone of the US banking system. "Our technical teams have determined that the cause is a Federal Reserve operational error," the Fed said. The affected services facilitate check clearing and allow billions of dollars of payments to flow daily through the financial
Paxos CEO: Mainstream Adoption of Crypto Will Revolutionize the Financial System - CoinDesk
24 Feb 2021 | 14:49 pm
Canada’s First Bitcoin ETF hits $421.8 million AUM in two days. $25 million in DeFi Loans Liquidated as Ether Price Falls. Bitcoin Briefly drops below $48K as Analysts Say Rally Overdone, Yellen Comments.
GameStop Hearings Make A Strong Case For Blockchain-Based Trading
19 Feb 2021 | 00:00 am
Robinhood CEO Vlad Tenev has called for a real-time settlement of trades in real time. The two-day trade settlement period, known as T+2, was adopted by the SEC in March 2017 as a revision to the previous three-day model. Paxos has already settled 15,000 trades worth approximately $75 million using blockchain technology.
Changing US Equities Markets with Blockchain Technology | Paxos
10 Feb 2021 | 20:31 pm
Greg Lee, Managing Director for the securities business at Paxos, has worked in electronic trading for financial institutions like UBS, Deutsche Bank and Barclays for over 20 years. He was involved in some of the first FX online trading systems and first Equities online trading platforms. Paxos is expanding rapidly and looking to hire in all functions.
CoinDesk TV - CoinDesk
08 Feb 2021 | 23:51 pm
Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments. Dogecoin Smokes Its All-Time High After Snoop Dogg Becomes Snoop DOGE. Bitcoin Back Above $40K as Institutions Lead the Way. Bitcoin
Robinhood’s GameStop Debacle Spurs Calls to Modernize Stock Clearing
08 Feb 2021 | 10:30 am
Robinhood Markets and others are calling for a modernization of the way the Depository Trust & Clearing Corporation (DTCC) processes nearly $1.7 trillion of securities trades each day to prevent such an occurrence from repeating. The DTCC is responsible for clearing and settling U.S. stock trades. It ensures that the shares are delivered to the buyer and cash is delivered to
What Lehman Brothers, Gamestop and the Next Financial Crisis Have in Common | Paxos
05 Feb 2021 | 17:52 pm
The system that failed brokerages last week is the same system that exacerbated Lehman Brothers’ collapse, writes Paxos. The system is built to promote trading and liquidity, but cannot withstand the pressure of extreme events. Modern technology can make the risks inherent in the current system obsolete, enabling greater trading liquidity while increasing ownership transparency.
The Block Founder Mike Dudas Takes Stablecoin Role at Paxos - CoinDesk
03 Feb 2021 | 14:41 pm
Mike Dudas, founder of cryptocurrency news site The Block, is joining Paxos, the firm behind PayPal’s bitcoin-buying service. He will focus on building Paxos' white-labeled stablecoin business. Paxos issues PAX, the fifth-largest stablecoin by market capitalization.
Full-Time Musician to Software Engineer: My Journey to Fintech | Paxos
29 Jan 2021 | 19:31 pm
Paxos' staff software engineer shares his non-conventional career path and why he works at Paxos. "I was looking for a job within the crypto industry when I met a few engineers from Paxos at a BitDevs event Paxos sponsored. I was immediately impressed by the talent and friendliness of engineers I met," he said.
Building Products that can Revolutionize Financial Services | Paxos
15 Jan 2021 | 17:52 pm
Paxos has launched the Paxos Settlement Service, a blockchain-based network that allows two parties to bilaterally settle US listed securities trades directly with no intermediary. Paxos is now for Credit Suisse, Instinet and Societe Generale settling listed equities. This is the first time that blockchain-enabled settlement is used in a live environment for publicly traded equities
How I got to work on the exchange that powers PayPal’s crypto offering | Paxos
18 Dec 2020 | 17:40 pm
Paxos is a regulated, disruptive approach to creating efficiency in key financial workflows by writing them to a distributed ledger, i.e. blockchain. Paxos' Engineering Manager on the Custody team and I mostly manage the crypto exchange (aka itBit) has been an exciting and rewarding journey. "Every engineer at Paxos makes an impact on the world."
Fueling Paxos’ Growth in 2021 and Beyond | Paxos
16 Dec 2020 | 23:33 pm
Paxos has raised $142 million in Series C funding, bringing its total funding to more than $240 million. Paxos is a provider of blockchain and cryptocurrency infrastructure solutions for the largest enterprises and financial institutions like PayPal, Credit Suisse, Societe Generale and Revolut. The company is building the most effective, high-volume infrastructure to facilitate the mainstream transition to token-based financial systems.
Why Paxos is Seeking a National Trust Bank Charter — and Why We Remain Committed to New York |…
09 Dec 2020 | 22:36 pm
Paxos has submitted an application to the US Office of the Comptroller of the Currency for a national Trust Bank charter. If granted, Paxos will become the first custodian of digital assets to be regulated at both the state and federal levels. Paxos is currently regulated by the New York State Department of Financial Services as a Trust company.
From a Federal Government Agency to Fintech — Practicing Law in the Emerging Blockchain Industry |…
04 Dec 2020 | 18:18 pm
Paxos Deputy General Counsel Emily Meyers talks about her journey to Paxos. Meyers has previously worked at an international law firm, a federal government enforcement agency, and the startup WeWork. "I support all aspects of the business, helping the company to grow, mitigating risk, and solving problems," Meyers said.
New to Crypto? These are the Answers to Your Top 10 Questions | Paxos
20 Nov 2020 | 16:11 pm
Paxos is the regulated leader in digital assets from the beginning. Paxos holds dollar reserves in US FDIC-insured bank accounts backing the total supply of stablecoins. Stablecoins are a real-world equivalent of US dollars, with an unlimited supply and can be easily minted. The company is designed to be a true peer-to-peer commerce system.
PayPal gets into crypto with new features for trading and shopping
21 Oct 2020 | 13:52 pm
PayPal has announced that it will launch a new feature in the US in the coming weeks that will allow users to buy, hold and sell cryptocurrencies including Bitcoin, ethereum, Bitcoin Cash and Litecoin. The company also plans to let customers use crypto to shop with its network of 26 million retailers by early 2021.
PayPal to let you buy and sell cryptocurrencies in the US – TechCrunch
21 Oct 2020 | 13:28 pm
PayPal has partnered with cryptocurrency company Paxos to launch a new service in the US to let users buy, hold and sell cryptocurrencies. PayPal plans to support Bitcoin, Ethereum, Bitcoin Cash and Litecoin at first. Users will be able to connect to their PayPal account to buy and sell cryptocurrency, while Paxos takes care of trading and custody.
Blockchain Makes Inroads Into the Stock Market’s $1 Trillion Plumbing System
07 Nov 2019 | 13:00 pm
The US Securities and Exchange Commission has approved a pilot project in which blockchain will be used to settle trades in stocks like General Electric and AT&T. The project aims to construct a faster and cheaper way to process stock trades, ultimately reducing costs for Wall Street banks and investors alike.