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Paxos
B+NY Trust Company (State-Regulated)SPOFInstitutions & Issuance Partners
Paxos is a NY DFS-regulated trust company that issues stablecoins (USDP, PYUSD for PayPal) and tokenized gold (PAXG). Reserves are held in FDIC-insured bank deposits and short-duration US Treasuries. Monthly attestations are published by WithumSmith+Brown. Paxos operates as stablecoin infrastructure — powering PayPal's PYUSD and providing enterprise tokenization services.
78
Score Breakdown
Custody & Security35% weight
82
Ease of Use20% weight
72
Fees15% weight
75
Features10% weight
78
Transparency10% weight
88
Support10% weight
72
Assessment
Key Strength
NY DFS-regulated trust company. Issues PYUSD for PayPal, USDP, and Pax Gold (PAXG). Monthly attestations by WithumSmith+Brown. Strongest regulatory position of any stablecoin issuer.
Primary Risk
Single entity risk. Paxos was ordered by NY DFS to stop minting BUSD in 2023. B2B focus means limited direct consumer access.
Pros
- +Strongest regulatory position (NY DFS trust)
- +Monthly attestations by reputable auditor
- +Powers PayPal's PYUSD
- +Segregated customer reserves
- +GENIUS Act compliant architecture
Cons
- -Ordered to stop BUSD issuance by NY DFS
- -Smaller market cap than USDC/USDT
- -B2B focused, limited direct consumer access
- -Single jurisdiction (New York)
Custody Features
✕Multisig
✕Multi-Institution
✕No Single Point of Failure
Segregated Accounts
Proof of Reserves
Insurance
Regulated Custodian
No Physical Exposure
✕Multi-Jurisdiction
✕Inheritance
✕Segregated Insurance
✕IRA
✕Lending
Buy/Sell
✕Dynasty Trusts
Fees
Custom institutional pricing
MinimumInstitutional
Security
Key Management
Institutional trust infrastructure
SOC Compliance
SOC 2 Type 2
Penetration Testing
Insurance & Regulatory
✓Qualified Custodian
Jurisdiction
New York, USA
Licenses
NY DFS Trust Charter, Singapore MPI License
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