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Paxos

Paxos Trust Company is a New York-based financial technology firm specializing in blockchain solutions, known for its regulated stablecoin, Pax Dollar (USDP).

HeadquartersNew York, USA
Founded2012
CEOCharles Cascarilla
StagePrivate
FoundersCharles Cascarilla, Rich Teo
Websitepaxos.com ↗
X@Paxos ↗
LinkedInpaxos ↗
GitHub@paxosglobal ↗

Products

USDP active $32M
Pax Dollar
Fiat Backed

Pax Dollar (USDP) is a fiat-backed stablecoin by Paxos Trust Company, maintaining a 1:1 parity with the U.S. dollar.
PYUSD active $2.7B
PayPal USD
Fiat Backed

PayPal USD (PYUSD) is a U.S. dollar-denominated stablecoin issued by Paxos Trust Company, fully backed by U.S. dollar deposits and equivalents.
USDG active $3.0B
Global Dollar
Fiat Backed

USDG is a U.S. dollar-backed stablecoin by Paxos, maintaining a 1:1 peg with the U.S. dollar and integrated across multiple blockchain networks.

Paxos Trust Company is a financial technology firm based in New York, specializing in blockchain solutions and regulated stablecoins.

Paxos holds a limited-purpose trust charter from the NYDFS, a Major Payments Institution license from MAS, and is overseen by the OCC at the national level.

Regulatory Status

United States / New York
NYDFS Limited Purpose Trust Charter
licensed2015
Singapore
Major Payment Institution licence; USDG issuer under MAS supervision
licensed2024
EU / Finland
MiCA-compliant e-money token issuance under FIN-FSA supervision
licensed2025

Funding

RoundAmountYear
Series B$65M2018
Series C$142M2020
Series D$300M2021

Frequently Asked Questions

What stablecoins does Paxos issue?
Paxos issues Pax Dollar (USDP), PayPal USD (PYUSD) and Global Dollar (USDG) through different Paxos entities and programs. USDG is the largest Paxos-linked product on this page, with market capitalization of $3.0B as of 1 July 2026.
Is PYUSD regulated?
Paxos states that PayPal USD is issued by Paxos Trust Company, N.A. and is backed 1:1 for the dollar. PayPal also states that PYUSD is backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents.
Who issues USDG?
Paxos announced Global Dollar in November 2024 and stated that Paxos Digital Singapore Pte. Ltd. is the issuer regulated by the Monetary Authority of Singapore. Paxos later said USDG also launched in the EU through Paxos Issuance Europe under FIN-FSA supervision and MiCA compliance.
How are Paxos stablecoins backed?
Paxos states that its U.S. dollar stablecoins are fully backed by equivalent U.S. dollar-denominated assets held with regulated financial institutions in segregated accounts. Paxos also publishes monthly reserve reports for Paxos-issued digital assets.

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