The company’s main product is Bankchain, a cloud-based platform as a service (PaaS) blockchain settlement solution for capital markets. In 2016, Paxos partnered with Euroclear to provide blockchain settlements for London's bullion market and this partnership is said to have ended in July 2017.
The Paxos CEO is co-founder Charles Cascarilla, and its board of directors includes the former chairwoman of the U.S. Federal Deposit Insurance Corporation (FDIC) Sheila Bair; former Democratic U.S. Senator William Warren "Bill" Bradley; former chairman of the Financial Accounting Standards Board (FASB) Robert H. Herz; and former chairman, president, and CEO of Lotus Development Corporation Jim Manzi.
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- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- Financial technologyFinancial technology, also commonly referred to as FinTech, is a suite of technological innovations replacing and competing with the delivery of traditional financial services and products.