The Blockchain Association wants one-off and intermediary-routed cash-outs excluded, leaving regulators to decide when self-custody holders become issuer customers.
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Stablecoins are no longer just about holding a digital dollar. Paxos launching USDGL in Singapore shows how issuers are trying to move into regulated yield-bearing products without losing the trust that stablecoin users
Stablecoins are no longer just about holding a digital dollar. Paxos launching USDGL in Singapore shows how issuers are trying to move into regulated yield-bearing products without losing the trust that stablecoin users
Paxos says the SEC has ended its investigation into BUSD without recommending an enforcement action, giving the stablecoin sector a rare piece of regulatory relief in the United States.
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House of Doge struck partnership with Paxos to integrate DOGE across the firm's enterprise-grade brokerage and custody infrastructure.
Paxos said it is the first and only blockchain-native firm to be registered as a clearing agency under the SEC.
The firm used USDC on Ethereum and PayPal USD on Solana for insurance premium payments, testing how stablecoins could reshape settlements.
Rival stablecoin issuer Circle also tapped Aleo to pilot a privacy-preserving version of its flagship USDC token, called USDCx.
Tokenized gold has improved the traditional store of value metal's utility, while bitcoin trades like a risk asset amid uncertain times, one expert noted.
Crypto tokens backed by gold booked $178 billion trading volume last year, surpassing all but one major gold ETF, a report showed.
The firms have obtained conditional approval from the Office of the Comptroller of the Currency to convert into national trust banks.
The move aims to position Paxos to serve growing institutional demand for on-chain asset issuance and stablecoin payments.
For a few surreal moments on Oct. 15, the Ethereum blockchain seemed to host the financial equivalent of a dream. Paxos, the issuer behind PayPal’s stablecoin PYUSD, accidentally minted $300 trillion worth of tokens, which is roughly 300 times the global GDP, before burning them just as fast. The minting, visible on Ethereum’s public ledger, […]
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The supply deluge was quickly reversed with burn mechanism.
The company said it has since burned the excess tokens, and that the root cause of the incident has been addressed.
The dominance of Tether and Circle, once seen as unshakable, is now facing its most formidable test yet, crypto product and strategy professional James Murrell argues.
These gold-backed tokens have been a refuge for crypto investors, with year-to-date gains of over 50%, mirroring gold's historic rally.
The USAD token encrypts transaction data end-to-end, aiming to enable private, programmable digital dollars.
Tether's XAUT and Paxos' PAXG, the two largest gold-backed tokens, posted record monthly trading volumes in September as spot gold pushed above $3,800.
The interoperability protocol is introducing a permissionless version of the token to Aptos, Avalanche, Tron and several other chains.
Hyperliquid’s decision to launch its stablecoin has sparked one of the most competitive governance battles in recent memory. Last week, the decentralized exchange, which had been relying on Circle’s USDC for its liquidity, announced plans to introduce USDH as its native stablecoin. The move immediately attracted a wave of bidders, each vying for the right […]
The post Hyperliquid’s USDH stablecoin race heats up as Native Markets takes lead amid Paxos’ proposal appeared first on CryptoSlate.
Paxos faces stiff competition from other bidders looking to become USDH's issuer, including Frax Finance, Agora, Ethena Labs and Sky.
Hyperliquid’s governance token HYPE climbed above $50 during Asian trading hours, boosted by new bids to manage the decentralized exchange’s proposed stablecoin, USDH. According to CryptoSlate’s data, the token gained more than 7% in the last 24 hours to reach $50.08, edging close to its August peak of $51. This upward momentum reflects confidence in […]
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Hyperliquid is currently heavily reliant on USDC, with $5.5 billion worth of Circle's stablecoin held on the platform.
Gold-backed tokens XAUT and PAXG have surged to fresh highs in market capitalization as the metal trades near its April peak.
The stablecoin issuer seeks to convert its New York Department of Financial Services license to federal oversight
The New York Department of Financial Services (NYDFS) has imposed a $48.5 million penalty on Paxos as part of its enforcement action against the stablecoin issuer, according to an Aug. 7 announcement. The settlement includes a $26.5 million civil monetary fine and mandates Paxos to spend an additional $22 million over three years to strengthen […]
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In addition to the fine, Paxos agreed to invest another $22 million into beefing up its compliance program.
Visa's platform now supports four stablecoins across four blockchains, including Ethereum and Solana.
Paxos USDG will have a significant impact in the EU's regulated stablecoin markets, offering an alternative to USDC and others for 450 million residents.