Cascarilla said Paxos intends to use the funds to hire at least 100 more employees and build trust by obtaining more regulatory licenses, including a national bank charter and SOC 2 certification. The certification is a very tough, very well-respected audit of a company’s processes for securing and protecting customer data. Paxos will also focus on increasing the type and number of tokenized assets it handles.
Is institutional FOMO behind rumored PayPal-Paxos partnership?
Reports say the payment giant’s rumored team-up with the Paxos Trust Company is a sign of growing fear of missing out by big financial institutions that could that could take bitcoin mainstream
PayPal’s rumored plans to offer cryptocurrency purchases to its hundreds of millions of users appear to be gathering pace in what could be the latest example of a growing trend—fear of missing out on digital assets by traditional financial institutions.
Paxos and Binance to launch dollar-based stablecoin
Meanwhile, asset-backed PAX Gold hits market Thursday
Paxos Trust, the company behind stablecoin Paxos Standard, announced plans to launch two new asset-backed coins.