Paxos

Paxos is a New York-based regulated blockchain infrastructure platform founded in 2012 by Charles Cascarilla and Rich Teo. The company specializes in providing enterprise-grade blockchain solutions, including cryptocurrency brokerage services, asset tokenization, stablecoin issuance, and settlement services for traditional and digital assets. Paxos operates under multiple regulatory frameworks, having received a limited-purpose trust charter from the New York State Department of Financial Services in 2015, making it the first company approved to offer regulated crypto products in the United States. The company also holds a Major Payment Institution license from the Monetary Authority of Singapore and operates as a trust overseen by the Office of the Comptroller of the Currency at the national level. Paxos offers white-label crypto brokerage services to major financial institutions and fintech companies, enabling them to provide cryptocurrency trading to their customers without building internal infrastructure. Notable clients include PayPal, Revolut, Venmo, Mercado Libre, and Interactive Brokers. The company issues several regulated digital assets, including Pax Dollar (USDP), one of the industry's first regulated stablecoins launched in 2018, and PAX Gold (PAXG), a gold-backed digital token introduced in 2019. Paxos also issues PayPal USD (PYUSD) for PayPal. In addition to crypto services, Paxos received SEC approval in 2019 to pilot blockchain-based settlement services for U.S. equities, with Credit Suisse and Société Générale among its first banking clients. The company maintains offices in New York, London, Singapore, and Israel, and has raised over $540 million in funding. While Paxos is a U.S.-based company with no direct operations in Mexico, it powers crypto services for Mercado Libre, which has significant presence in the Mexican market.