Wedbush Will Use Paxos Network to Settle Stocks
17 Jun 2021 | 13:51 pm
Wedbush has joined the Paxos Network, which uses blockchain technology to settle stock trades in minutes. The firm joins the likes of Bank of America, Credit Suisse, Nomura’s Instinet, and Societe Generale in the network. Paxos closed a $300 million funding round in April, putting its valuation at $2.
Stocks on the Blockchain: Wedbush Uses Paxos to Settle Trades
17 Jun 2021 | 13:10 pm
US investment firm Wedbush Securities announced on Thursday that it would begin using blockchain technology to settle certain stock trades. The move follows similar moves by Credit Suisse and Bank of America. Currently, banks and investment firms rely on legacy software systems to record and clear the billions of stock trades they carry out every year.
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.
AMA with Carl Vogel (PAX Gold): Summary
13 Jun 2021 | 19:56 pm
Paxos has launched PAX Gold, a digital token that represents one fine troy ounce of London Good Delivery Gold Bars. Paxos is a regulated Trust Company by the NY DFS and all gold is held by FBO token holders. PAX Gold is a digital representation of physical gold, and so procuring the physical may not incur a taxable event.
Bank of America to Settle Stock Trades on Paxos Network
17 May 2021 | 17:07 pm
Bank of America is set to join the Paxos Network to settle stock trades in minutes rather than days. The move will allow Bank of America to settle trades faster by leveraging blockchain technology. Paxos was valued at $2.4 billion last month after PayPal, Credit Suisse Group, and others contributed to a $300 million funding round.
Bank of America partnership with Paxos will allow same-day trade settlements
17 May 2021 | 00:00 am
Bank of America has joined Paxos Settlement Service, a platform capable of same-day settlement of stock trades using blockchain technology. The move would reportedly allow for a “more flexible and speedier” stock settlement system compared with that of the Depository Trust & Clearing Corporation.
Community Driving the Value of Coins, Says Paxos CEO
07 May 2021 | 14:39 pm
Paxos CEO Charles Cascarilla said that people buy bitcoin not to spend it, but because it will eventually play a role similar to gold. People buy bitcoin because they think it will be the new gold, and ethereum for its potential to “replatform the financial system.” People buy dogecoin because there’s a lot of community that goes into driving it.
Same-Day Stock Settlements Are Here: Using Paxos Blockchain, Credit Suisse And Nomura Instinet Hit T + Zero
06 Apr 2021 | 00:00 am
Paxos Trust Company announced its partners Credit Suisse CS and Instinet settled U.S.-listed equities trades on a same-day settlement cycle, known as T+0, via Paxos’ blockchain-based service. The company is preparing to apply for full clearing agency registration with the SEC.
Paxos applies for clearing license with SEC following successful pilot tests
06 Apr 2021 | 00:00 am
US-based stablecoin operator Paxos has announced it will apply for a formal clearing agency license with the Securities and Exchange Commission. The move follows a successful pilot test of its same-day settlement system. Paxos raised $142 million from major investors including PayPal and Mithril Capital last year.
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.
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.
Binance Lists PAX as a Base Currency
29 Nov 2018 | 12:59 pm
Binance has added Paxos Standard (PAX) stablecoin as a base currency on Binance. PAX is backed 1:1 by US dollars held in FDIC-insured US banks, and a major auditing firm regularly ensures that these bank balances and token balances are consistent through monthly attestations. Verified customers can always redeem PAX for US dollars directly from Paxos with zero fees.
Paxos to Partner with Bitpay, Global Bitcoin Payment Service
20 Nov 2018 | 18:42 pm
Paxos Standard token (PAX) is now a settlement option for BitPay merchants around the world. BitPay is the first and most experienced company in bitcoin payments. This integration marks the start of PAX usage in real-world commerce, with much more to come!
Paxos Standard (PAX) crosses $100M
29 Oct 2018 | 22:03 pm
The Paxos Standard token (PAX) has passed the $100 million mark since its launch one month ago. The token is issued 1:1 to the US dollar when customers deposit funds. You can trade PAX on over 30 of the top global exchanges and OTC desks.
Paxos Introduces Faster Processing for PAX
26 Oct 2018 | 23:44 pm
Paxos has added several more windows for conversions and fiat deposits/withdrawals. With more frequent processing times every weekday, you can be sure that the transactions you initiate are fulfilled faster than ever. These changes will be in effect from tomorrow, October 27, 2018, until further notice.
Binance Lists Paxos Standard (PAX) Against Tether (USDT)
04 Oct 2018 | 20:13 pm
Binance has listed Paxos Standard token (PAX) against tether (USDT) for the first time. Paxos always issues and redeems tokens one-to-one against FDIC-insured U.S. dollars held in FDIC insured banks. The token is regulated, audited and always redeemable 1:1 for the US dollar.
Monthly Attestation Reports
02 Oct 2018 | 21:37 pm
As we bring trust and transparency to the digital asset market with PAX, the industry’s first regulated stablecoin, we are pleased to share our first month-end attestation report, prepared and published by nationally-ranked auditing firm Withum. This and all future reports will be viewable at www.paxos.com/standard/attestations.
Binance lists Paxos Standard token (PAX)
21 Sep 2018 | 05:47 am
Binance has announced it will list Paxos Standard token (Paxos Standard) on its exchange. Paxos issues and redeems PAX tokens one-to-one against U.S. dollars, giving holders a digital equivalent of the dollar that can be moved nearly instantly, 24/7. Stablecoins are attractive to active traders who can use it to cash out of digital assets more quickly.
Paxos launches new stablecoin, Paxos Standard (PAX)
14 Sep 2018 | 18:13 pm
Paxos has announced the launch of Paxos Standard, the world’s first regulated crypto asset. The Paxos Trust Company is approved and regulated by the New York State Department of Financial Services. Paxos is a fiduciary and qualified custodian of customer funds, and can offer greater protections for customer assets than any other existing stablecoin.