Category: Paxos

Robinhood CEO holds up crypto exchanges as model for faster stock settlement

During a webinar on Tuesday, the CEOs of  Robinhood and Paxos juggled ideas for speeding up stock settlement times. Robinhood’s Vlad Tenev has been in the public spotlight since wild volatility in meme-driven stocks like GameStop and AMC pushed the popular stock trading app into the public eye earlier this year. At the time, he […]

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Paxos $300M Series D Fundraise Takes its Valuation to $2.4 billion

Paxos, the cryptocurrency exchange has raised another $300 million in a Series D funding round taking their valuation to $2.4 billion. The funding round was led by Oak HC/FT and saw participation from early investors like Declaration Partners, PayPal Ventures, and Mithril Capital. The Series D funding round comes just months after the company had […]

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OCC Grants Crypto Firm Paxos ‘Conditional Approval’ for US Bank Charter

The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize the firm’s future banking plans. Paxos Granted Preliminary […]

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Paxos becomes latest crypto company to score OCC approval for a bank charter

Crypto firm Paxos has received conditional approval for a bank charter from the U.S. Office of the Comptroller of the Currency (OCC), giving it the green light to split its operations between two entities: one regulated on a national level and one maintaining its current regulatory structure. Paxos isn’t the first crypto firm to receive […]

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Credit Suisse, Instinet settle equities on same day via Paxos Settlement Service

Credit Suisse and Nomura-owned broker-dealer Instinet have settled U.S.-listed equity trades on a same-day settlement cycle (T+0) via Paxos’ blockchain-based settlement service. Paxos announced the news on Tuesday, saying the equity trades occurred at 11 AM ET and 3 PM ET on a day and were settled at 4: 30 PM ET on the same […]

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A Washington DC insider lays out her vision for the bitcoin market’s first self-regulatory organization

Michelle Bond has been focused on financial regulation for decades, and a turn to crypto policy a few years ago led her to take the helm at the Association for Digital Assets Markets by the end of 2020. ADAM is a trade association for crypto markets, featuring a code of conduct that requires its members […]

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Paypal to Earn $2 Billion in Revenue From Its Bitcoin Business, Says Analyst

Paypal to Earn $2 Billion in Revenue From Its Bitcoin Business, Says Analyst

Mizuho Securities analyst Don Dolev has forecast that Paypal will earn up to $2 billion in revenue from its bitcoin business by 2023. This year, he expects that the payment giant’s overall revenue will climb 20%. Dolev says there has been a “dramatic increase in engagement due to crypto,” with 50% of Paypal crypto users […]

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