Paxos

Paxos, founded in 2012 as itBit by Charles Cascarilla and Richmond Teo in New York, operates regulated blockchain infrastructure for stablecoins, settlement and custody. As a New York limited-purpose trust company overseen by NYDFS, it issues and custodies Pax Dollar (USDP), PayPal USD (PYUSD) with PayPal, and previously Binance USD, all backed by cash and short-dated Treasuries with monthly attestations. Its enterprise platform also powers brokerage and settlement for PayPal, Interactive Brokers and MercadoLibre. Headquartered in New York with offices in London and Singapore, Paxos emphasizes compliance-first engineering and audit transparency. Backed by leading investors, it focuses on building enduring credible bridges between banks and blockchains today. Expect a culture of regulatory craftsmanship, operational reliability and long-term trust in issuance.