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Search "Paxos" has a total of8related results
Techub News reports, according to Fortune, Paxos Labs, a subsidiary of stablecoin issuer Paxos, has completed a $12 million financing round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom, and Uniswap Labs. Bhaumik Kotecha, co-founder of Paxos Labs, declined to disclose the valuation of this funding round.
Techub News reports that risk management and insurance broker Aon has completed a pilot for the first stablecoin insurance premium payment. This pilot was led by Aon's digital assets division, in collaboration with Coinbase and Paxos, to settle premiums for their respective insurance programs; the transactions were executed across multiple blockchain networks, including USDC on Ethereum and PayPal USD (PYUSD) on Solana, demonstrating cross-stablecoin and cross-chain flexibility. This initiative is supported by the federal stablecoin framework established by the GENIUS Act passed in 2025. Aon stated that this move aims to assess the potential of integrating regulated stablecoin settlements into insurance services to achieve faster settlement times, higher payment efficiency, and strengthen risk management in the evolving digital finance landscape.
Techub News, according to Blockworks, Paxos has partnered with Toku to launch a feature enabling employees to receive a portion of their salary in the stablecoin USDG through payroll platforms ADP and Workday. Unlike traditional paychecks, settlement will be instant.
Techub News, stablecoin issuer Paxos tweeted that at 3:12 PM ET, Paxos mistakenly minted excess PYUSD during an internal transfer process. Paxos immediately identified the error and burned the excess PYUSD. This was an internal technical error. There was no security breach. Customer funds are safe. The root cause has been resolved.
Techub News, WalletConnect announces that its payment infrastructure WalletConnect Pay has integrated PayPal USD (PYUSD), allowing users to pay directly with PYUSD in their wallets at merchants that support the network, without the need for additional conversion or bridging steps. PYUSD is issued by Paxos Trust Company and is 1:1 backed by U.S. dollar deposits and short-term U.S. Treasury bonds. It has been deployed on mainstream networks such as Arbitrum and Ethereum. Users can now spend stablecoins directly at merchants connected to the network via self-custodial wallets like MetaMask, and merchants can receive funds without modifying their existing workflows.
Techub News reports, according to monitoring by X user Ai Yi, a Vitalik-associated address starting with 0xcAC deposited 330 ETH into Paxos 11 hours ago, valued at approximately $1.02 million. This address had previously received a transfer of 50.1 ETH from vitalik.eth two years ago, marking its second token deposit into Paxos since January 2025.
Techub News reports, according to crowdfundinsider, the U.S. Office of the Comptroller of the Currency (OCC) has conditionally approved trust bank charters for Ripple, BitGo, Fidelity Digital Assets, Paxos, and Circle. Techub News note: Conditional approval is a form of preliminary endorsement, indicating that the OCC has reviewed the applications and found the companies substantially meet regulatory requirements (such as capital adequacy, risk management frameworks, and business plans), but it is not the final license. The companies must satisfy specific conditions within a stipulated timeframe to convert to full operational status. Once all conditions are met, the OCC will issue a final, unconditional national trust bank charter, allowing the companies to immediately exercise trust bank powers, which primarily include: expanding core business to act as a trustee managing client assets, handling payment settlements, custodying digital assets (such as stablecoin reserves), and providing related financial services. However, a trust bank charter differs from a full-service bank; it cannot accept deposits or issue loans. It allows applying for a Federal Reserve master account, accelerating clearing and access to the traditional financial system, further promoting the integration of crypto and traditional finance.
Techub News, according to Fortune, stablecoin and blockchain infrastructure company Paxos has acquired New York-based startup Fordefi, which is dedicated to helping clients store digital assets. A Paxos spokesperson stated the acquisition amount exceeds $100 million but declined to disclose the transaction terms. This acquisition aims to meet clients' growing demand for DeFi access. Fordefi will temporarily maintain independent operations, but Paxos plans to eventually integrate its technology into its own infrastructure. This marks Paxos's second acquisition within the past year, following its previous acquisition of Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.
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