Tags: Paxos

Delphi Digital predicts that stablecoin monthly active addresses will surpass 50 million as adoption becomes a necessity for fintechs.

A new “Global Dollar Network” has been announced by leading fintech and digital asset companies.

Paxos will not be charged by the SEC with issuing an unregistered security in the form of BUSD.

Due to the job cuts, Paxos’ headcount now hovers between 200 and 300. 

Paxos’s Solana expansion was approved by NYDFS.

The approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-backed stablecoin.

The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval.

PayPal also said in its quarterly report that it is cooperating with authorities in its request for documents "relating" to its stablecoin.

Crypto.com, PayPal and Paxos Partner for PayPal USD Integration – Here‘s What You Need to Know

PayPal launched its U.S. dollar-backed, Ethereum-built stablecoin in August 2023.

Paxos, the issuer of the PayPal PYUSD stablecoin, has recently published an unaudited transparency report that emphasizes the full backing of PYUSD.

Bitcoin Miner Returns 19.8 BTC in Fees After Paxos Claims Payment Mistake

On-chain data shows that F2Pool promptly returned the overpaid fee paid a few days ago to Paxos, rectifying the costly mistake.

Today in Crypto: Polygon Launches Phase 0 Towards Polygon 2.0, Ripple Opens Up Liquidity Hub to Brazil & Australia

Chun’s reservations about whether to return the funds to Paxos stems from him being “annoyed” that “the person claiming it (the funds) kept saying EST instead of EDT/UTC.”

The total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4 million as of Aug. 31, Paxos report states.