Paxos (company)

Paxos (company)

Paxos is an American financial technology (“fintech”) company, established in September 2016 and based in New York, with international offices in London and Singapore. Its main business is developing and providing blockchain technology for the financial services industry.

The company’s main product is Bankchain, a cloud-based platform as a service (PaaS) blockchain settlement solution for capital markets that launched in 2012 and has offices in New York City, New York, Singapore, and London, England. 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 company is offering the Paxos Standard (PAX) cryptocurrency, the itBit cryptocurrency exchange, a cryptocurrency backed by gold called Paxos Gold (PAXG), a stable coin cryptocurrency called Binance USD (BUSD) that is pegged to the US dollar, asset custody under a regulated Trust Company, and post-trade automation for precious metals, base metals, and FX markets.

Management

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.

Timeline

May 2018

Paxos raises a $65,000,000 series B round from RRE Ventures, Jay Jordan and Liberty City Ventures.

Funding rounds

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Investment
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People

Name
Role
LinkedIn

Charles Cascarilla

Founder

Jenn Phillips

Employee

Jim Manzi

Sheila Bair

William Bradley

Further reading

Title
Author
Link
Type
Date

Paxos launches new stablecoin, Paxos Standard (PAX)

Paxos Standard token

Web

Paxos Unveils Dollar-Backed Stablecoin Approved by New York Regulator

Nikhilesh De

Web

What is Paxos Standard (PAX)? | Complete Beginners Guide

Steve Walters

Web

Documentaries, videos and podcasts

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Date
Link

Companies

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CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Romain Dillet
July 15, 2020
TechCrunch
Neobank Revolut launched in the U.S. a couple of months ago. The startup is slowly catching up with features that are available in the U.K. and Europe. This time, Revolut is adding cryptocurrency trading through a partnership with Paxos. Users in the U.S. can now buy, hold and sell Bitcoin and Ethereum from the Revolut [...]

References

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