Paxos
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š Paxos Eyes EU Expansion with Membrane Finance Acquisition!
Big news! Paxos, the issuer behind stablecoins like Pax Dollar and PayPal USD, is taking a giant leap into Europe with plans to acquire Finland-based e-money platform Membrane Finance. š¦
Why does this matter?
š¹ EU Entry Point: Membrane Finance is licensed in Finland, making it a strategic gateway for Paxos to issue stablecoins and tokenized assets under the EUās upcoming MiCA regulations.
š¹ Global Reach: This move aims to provide European users with regulated, reliable stablecoins for seamless payments and money transfers.
š¹ Compliance First: Paxos has regulatory nods from the NYDFS, MAS (Singapore), and Abu Dhabiās FSRAānow adding Europe to its regulated playground. š
šØļø Paxosā Head of Strategy, Walter Hessert, shared:
"Stablecoins solve global payment challenges, and with Membrane, weāll bring these benefits to EU customers."
š With MiCA regulations coming into play by December 2024, this acquisition could position Paxos as a key player in Europeās crypto ecosystem.
š¬ Your turn:
What do you think about Paxos' push into the EU? Can stablecoins redefine payments across Europe? Letās chat below! ā¬ļø
#CryptoNews #Stablecoins #Paxos #Blockchain #EU $PAXG $USDP
Big news! Paxos, the issuer behind stablecoins like Pax Dollar and PayPal USD, is taking a giant leap into Europe with plans to acquire Finland-based e-money platform Membrane Finance. š¦
Why does this matter?
š¹ EU Entry Point: Membrane Finance is licensed in Finland, making it a strategic gateway for Paxos to issue stablecoins and tokenized assets under the EUās upcoming MiCA regulations.
š¹ Global Reach: This move aims to provide European users with regulated, reliable stablecoins for seamless payments and money transfers.
š¹ Compliance First: Paxos has regulatory nods from the NYDFS, MAS (Singapore), and Abu Dhabiās FSRAānow adding Europe to its regulated playground. š
šØļø Paxosā Head of Strategy, Walter Hessert, shared:
"Stablecoins solve global payment challenges, and with Membrane, weāll bring these benefits to EU customers."
š With MiCA regulations coming into play by December 2024, this acquisition could position Paxos as a key player in Europeās crypto ecosystem.
š¬ Your turn:
What do you think about Paxos' push into the EU? Can stablecoins redefine payments across Europe? Letās chat below! ā¬ļø
#CryptoNews #Stablecoins #Paxos #Blockchain #EU $PAXG $USDP
#LayerZero , a prominent interoperability protocol, has partnered with #PayPal to enable seamless transfers of PayPal USD (#PYUSD ) between Ethereum and Solana blockchains. Utilizing LayerZero's Omnichain Fungible Token (OFT) Standard, this integration allows users to move PYUSD across chains without relying on centralized platforms like PayPal or #venmo . The system is secured by a decentralized verifier network, including #Paxos , Google Cloud, and LayerZero Labs, ensuring high levels of protection and flexibility. This development promotes broader blockchain accessibility, providing PYUSD holders with more flexibility and faster transaction options.
$SOL
$ETH
$SOL
$ETH
A/C to Lookonchain monitoring, in the past 24 hours, a suspected fund/institution address starting with 0x335 withdrew 350 million USDC from Circle and transferred it to Binance. #Paxos #BUSD #fud #crypto2023 #ai
Paxos Treasury Burned 140,000,000 BUSD; Is The BUSD Era Over?
The Paxos Treasury has burnt 140,000,000 BUSD, knocking the Binance Dollar (BUSD) out of the top 10 by capitalization.
BUSD is quickly disappearing from the stablecoin market as Paxos is given the death penalty by US regulators. Although Paxos is devoted to maintaining the margin and converting BUSD to cash, the market share of this stablecoin is definitely dropping. Due to the inability to produce new coins and Paxos' continual burning of currencies, the current supply of this stablecoin is just about 10.98 billion tokens, a loss of over 31% over the past 30 days.
This directly reflects the stablecoin's position in terms of market capitalization. CoinGecko stated, BUSD was sixth in terms of market value prior to the incident but has now slid out of the top 10 and is now at position 11.The coin that gains the most from maintaining its unique status is Tether (USDT). The entire supply of USDT has climbed by around 5% during the last 30 days, DefiLlama said, increasing the stablecoinās capitalisation to $70.9 billion. With a direct market share of 52.3% held by Tether, the stablecoin market cap is currently hovering around $135.4 billion.
The Dollar Coin (USDC) from Circle comes in second. In spite of accusations that it suggested Paxos-BUSD to New York officials, Circle has persisted lately. The USDC market capitalisation is now about 42.2 billion USD, representing 31.2% of the market. Another stablecoin that is rising in popularity is TrueUSD (TUSD). Binance appears to be moving its priority to TUSD after being unable to do business with BUSD, as Binance issued a huge quantity of stablecoin TUSD on February 17. The 30-day period saw a 16% increase in TUSD supply, bringing the capitalization to $1.1 billion. With a 0.8% market share at the moment, TrueUSD is ranked fifth, behind USDT, USDC, BUSD, and DAI.
The stablecoin war is anticipated to intensify soon as new competitors like Curve's crvUSD, Aave's GHO, and Fantom's fUSD join the fight.
#Paxos #Binance #BUSD #crypto2023
BUSD is quickly disappearing from the stablecoin market as Paxos is given the death penalty by US regulators. Although Paxos is devoted to maintaining the margin and converting BUSD to cash, the market share of this stablecoin is definitely dropping. Due to the inability to produce new coins and Paxos' continual burning of currencies, the current supply of this stablecoin is just about 10.98 billion tokens, a loss of over 31% over the past 30 days.
This directly reflects the stablecoin's position in terms of market capitalization. CoinGecko stated, BUSD was sixth in terms of market value prior to the incident but has now slid out of the top 10 and is now at position 11.The coin that gains the most from maintaining its unique status is Tether (USDT). The entire supply of USDT has climbed by around 5% during the last 30 days, DefiLlama said, increasing the stablecoinās capitalisation to $70.9 billion. With a direct market share of 52.3% held by Tether, the stablecoin market cap is currently hovering around $135.4 billion.
The Dollar Coin (USDC) from Circle comes in second. In spite of accusations that it suggested Paxos-BUSD to New York officials, Circle has persisted lately. The USDC market capitalisation is now about 42.2 billion USD, representing 31.2% of the market. Another stablecoin that is rising in popularity is TrueUSD (TUSD). Binance appears to be moving its priority to TUSD after being unable to do business with BUSD, as Binance issued a huge quantity of stablecoin TUSD on February 17. The 30-day period saw a 16% increase in TUSD supply, bringing the capitalization to $1.1 billion. With a 0.8% market share at the moment, TrueUSD is ranked fifth, behind USDT, USDC, BUSD, and DAI.
The stablecoin war is anticipated to intensify soon as new competitors like Curve's crvUSD, Aave's GHO, and Fantom's fUSD join the fight.
#Paxos #Binance #BUSD #crypto2023
Binance CEO CZ Highlights Rising Market Cap of USDT
The founder of Binance, the largest #cryptocurrency exchange in the world, Changpeng Zhao, used Twitter earlier today to highlight the market conditions for stablecoins. The #Binance CEO began by highlighting the absurdity in Binance USD's (BUSD) winding down despite it being the āmost fiat-backed stablecoin.ā
Zhao's tweet said that #Paxos Trust Company, a stablecoin company governed by the New York Department of Financial Services (NYDFS) and audited by major accounting firms, was the issuer of BUSD. Nevertheless, when Paxos was instructed to stop creating the stablecoin last month, these reasons proved to be useless.
Changpeng Zhao emphasized that Tether USD (USDT), the largest stablecoin in the world, had been able to increase its market value by more than 9% despite the crackdown on Paxos and BUSD. The market capitalization of USDT has increased to a staggering $77 billion since the minting of #BUSD was stopped on February 21.
BUSD's market value, meanwhile, has experienced a severe decline, falling by more than 37% during the same time frame. The stablecoin had a $8.1 billion market valuation at the time of writing. Another stablecoin is failing as a result of the recent turbulence in the banking sector.
The founder of Binance called attention to USD Coin's (USDC) plight, which was made worse by Silicon Valley Bank's (SVB) collapse last week. For a brief while, the stablecoin was not tied to the US dollar and traded as low as 90 cents. According to Changpeng Zhao, bank closures are also lowering USDC's market capitalization. Since March 10 when SVB fell, the market cap of the stablecoin has decreased by more than 18%.
This news is republished from https://coinaquarium.io/
Zhao's tweet said that #Paxos Trust Company, a stablecoin company governed by the New York Department of Financial Services (NYDFS) and audited by major accounting firms, was the issuer of BUSD. Nevertheless, when Paxos was instructed to stop creating the stablecoin last month, these reasons proved to be useless.
Changpeng Zhao emphasized that Tether USD (USDT), the largest stablecoin in the world, had been able to increase its market value by more than 9% despite the crackdown on Paxos and BUSD. The market capitalization of USDT has increased to a staggering $77 billion since the minting of #BUSD was stopped on February 21.
BUSD's market value, meanwhile, has experienced a severe decline, falling by more than 37% during the same time frame. The stablecoin had a $8.1 billion market valuation at the time of writing. Another stablecoin is failing as a result of the recent turbulence in the banking sector.
The founder of Binance called attention to USD Coin's (USDC) plight, which was made worse by Silicon Valley Bank's (SVB) collapse last week. For a brief while, the stablecoin was not tied to the US dollar and traded as low as 90 cents. According to Changpeng Zhao, bank closures are also lowering USDC's market capitalization. Since March 10 when SVB fell, the market cap of the stablecoin has decreased by more than 18%.
This news is republished from https://coinaquarium.io/
šØ šØšØPaxos expands to Abu Dhabi šØšØšØafter receiving two in-principle approvals to issue stablecoins and offer crypto brokerage and custody services! #Paxos #BTC #airdropking #cryptocurreny
ā#FDIC sells #SignatureBank deposits to Flagstar, crypto not includedā (Source: Cointelegraph)
āā¦approximately $4 billion of deposits held by Signature Bank's digital assets business.ā
ā#Coinbase #Celsius and #Paxos ā¦ recently confirmed having some exposure to Signature Bank.ā
āā¦approximately $4 billion of deposits held by Signature Bank's digital assets business.ā
ā#Coinbase #Celsius and #Paxos ā¦ recently confirmed having some exposure to Signature Bank.ā
šØšØ Stablecoin issuer Paxos has laid off around 20% of its staff despite having more than $500 million on balance sheet
#bitcoin #crypto #Paxos #PaxosExpansion #PAXGUSDT
#bitcoin #crypto #Paxos #PaxosExpansion #PAXGUSDT
š“ European Union countries agree on the 14th package of sanctions on Russia, which includes a ban on Russian liquefied natural gas transfers, according to Reuters.
#bitcoin #crypto #Paxos #BTCFOMCWatch #CPIAlert
#bitcoin #crypto #Paxos #BTCFOMCWatch #CPIAlert
Stablecoin issuer Paxos has laid off around 20% of its staff despite being in a solid financial position.
Source: Theblock
#Paxos #Stablecoins #PaxosTreasury #BTCFOMCWatch #CPIAlert
Source: Theblock
#Paxos #Stablecoins #PaxosTreasury #BTCFOMCWatch #CPIAlert
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New York regulator allows Paxos to issue stablecoin on Solana network
Happycoin.club - Stablecoin issuer Paxos received approval from the New York regulator to expand its activities on the Solana blockchain, although the organization had previously received restrictions on operating on the Ethereum network.
Paxos said the approval from the New York Department of Financial Services "represents an important milestone for the innovation and growth of the organization's enterprise and consumer businesses."
The financial technology company said it plans to issue a USDP stablecoin backed by the US dollar on Solana. It is separately noted that the Solana blockchain has high transaction speeds and low transfer fees.
#Solana #Paxos #etherium #Stablecoins
Happycoin.club - Stablecoin issuer Paxos received approval from the New York regulator to expand its activities on the Solana blockchain, although the organization had previously received restrictions on operating on the Ethereum network.
Paxos said the approval from the New York Department of Financial Services "represents an important milestone for the innovation and growth of the organization's enterprise and consumer businesses."
The financial technology company said it plans to issue a USDP stablecoin backed by the US dollar on Solana. It is separately noted that the Solana blockchain has high transaction speeds and low transfer fees.
#Solana #Paxos #etherium #Stablecoins
$PUNDIX partnered with #Paxos š People can exchange physical gold for digital gold Paxos Gold $PAXG and the other way around with the #PundiX pos machine called XPOS in South Africa. Meanwhile hundreds of merchants can accept or sell Paxos Gold #PAXG token from the XPOS.
I love these two projects @Paxos @PundiX Labs
I love these two projects @Paxos @PundiX Labs
Crypto brokerage firm Paxos continues with its international expansion after receiving two in-principle approvals in Abu Dhabi.
#Paxos #CryptoInnovators #CryptoMovement #cryptonewstoday #CryptoNewsšš°š«
#Paxos #CryptoInnovators #CryptoMovement #cryptonewstoday #CryptoNewsšš°š«
šØ Breaking News! š
The US Securities and Exchange Commission (SEC) closes its investigation into Paxos, the issuer of the stablecoin $BUSD! šŗšøš«
The regulator declares that $BUSD is not a security, providing long-awaited clarity for the crypto industry.
This decision sets a precedent for the classification of stablecoins and paves the way for further growth and adoption!
Feel Free to Reach out us šTG@ItxAP117
For signalsš¶š¦
#Paxos #BUSD #Stablecoin #SEC #CryptoRegulation
$BTC
The US Securities and Exchange Commission (SEC) closes its investigation into Paxos, the issuer of the stablecoin $BUSD! šŗšøš«
The regulator declares that $BUSD is not a security, providing long-awaited clarity for the crypto industry.
This decision sets a precedent for the classification of stablecoins and paves the way for further growth and adoption!
Feel Free to Reach out us šTG@ItxAP117
For signalsš¶š¦
#Paxos #BUSD #Stablecoin #SEC #CryptoRegulation
$BTC
Paxos International has launched a yield-bearing stablecoin called Lift Dollar (USDL). USDL will be available to consumers in eligible global markets.
The unique feature of USDL is that it allows holders to earn overnight yield from high-quality US government securities and cash reserve assets, held under the safe custody requirements of the Financial Services Regulatory AuthorityĀ (FSRA).
#Paxos #PaxosGlobal #USDL #StartInvestingInCrypto #ETHETFsApproved
The unique feature of USDL is that it allows holders to earn overnight yield from high-quality US government securities and cash reserve assets, held under the safe custody requirements of the Financial Services Regulatory AuthorityĀ (FSRA).
#Paxos #PaxosGlobal #USDL #StartInvestingInCrypto #ETHETFsApproved