Paxos

"The crypto golden age is what’s upon us.” - Paxos CEO & Co-Founder Charles Cascarilla

This morning's announcement from the FDIC confirms exactly what we had long observed in the digital asset industry: "The FDIC's approach 'has contributed to a general perception that the agency was closed for business if institutions are interested in anything related to blockchain or distributed ledger technology.'" In a comment submitted to the OCC, Federal Reserve and FDIC in October 2024, our CEO and Co-Founder Charles Cascarilla called out this trend – and the impact this regulatory stance had on innovative financial technology: "Guidance from policymakers and regulators in recent years has had a chilling effect on banks' willingness – or ability – to service the digital assets industry. As a result, the digital assets industry has been left with limited banking options, undermining efforts to create diversified banking partnerships. This leads to concentration risk and is also pushing firms to look overseas for banking partners, at times in jurisdictions that do not share the same high standards as present in the United States." We welcome today's FDIC statement. It's a strong indication that the United States is ready to reemerge as the global hub for digital assets and financial innovation.

The stablecoin conversation is already moving in the new Congress - a signal that US lawmakers are serious about establishing a clear regulatory framework. We’re encouraged to see bipartisan co-sponsorship of today's bill, reinforcing that financial innovation and consumer protection are priorities for both parties. Looking forward to more progress in 2025.

This morning, we finalized the acquisition of Membrane Finance, officially becoming a fully licensed EMI in Finland and the EU. 🇫🇮🇪🇺 This milestone allows us to expand our regulated platform to serve European customers safely and responsibly, while paving the way for MiCA compliance.

Every transaction on chain is a step toward a better financial future.

We’re at a pivotal moment for stablecoins. Our CEO, Charles Cascarilla, sat down with Jason Yanowitz, Santiago R. and Nathan McCauley on the Empire Podcast to discuss: 💵 The economics of stablecoins 🌎 Democratizing access to the US dollar 🤝 USDG's game-changing approach to sharing network rewards

Stablecoins are more than a payment solution—they can play a role in reinforcing the dominance of the US dollar. Our Global Head of Public Policy, Lesley Chavkin, joined Chainalysis to discuss the evolving landscape of crypto policy and regulation.

2024 was a transformational year for the future of finance, powered by our incredible partners and the team at Paxos. From launching Global Dollar Network to hitting $500M+ in market cap for PAXG, Paxos put up huge wins across all of our stablecoin and tokenization products. It was a year for the new frontier and we are just getting started. 🚀 Thank you to our partners, thank you to our team and we will see you in 2025. Happy holidays!

Today we announced our partnership with Standard Chartered during Abu Dhabi Finance Week (ADFW) 2024, powered by #ADGM. The partnership enhances reserve management for Global Dollar (USDG) and Lift Dollar (USDL), further strengthening the infrastructure supporting these trusted digital assets in Singapore and UAE. View the press release: https://lnkd.in/et7tckiH It's also been an incredible week for Paxos, as leaders like Charles Cascarilla, Ronak Daya, Walter Hessert, Charlotte NEDIR COSTARD and Lesley Chavkin have been on the ground talking to industry leaders & attendees about the future of stablecoins in the capital of capital - from #ADFW to the #Bitcoin Mena conference. Note: USDL is not available to residents of certain jurisdictions, including the United States, and the United Arab Emirates except ADGM, the United Kingdom, the European Union, Canada, Hong Kong, Japan or Singapore.

💡 Did you know? State-regulated trusts, particularly those issuing and managing US dollar stablecoins, offer the most conservative model for asset protection. 🏛️ Learn more about prudential state regulation of stablecoin issuance by checking out the latest blog post from the policy team at Paxos. Read it here: https://lnkd.in/eQpjRpdk