PYMNTS-MonitorEdge-May-2024

paxos

Stablecoin Issuer Paxos Lays Off 65 Employees
Stablecoin Issuer Paxos Lays Off 65 Employees
June 12, 2024  |  Cryptocurrency

Stablecoin issuer Paxos has laid off 65 people, amounting to about 20% of its workforce. These cuts come at a time when the company is...

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PayPal Debuts Stablecoin Pegged to US Dollar
PayPal Debuts Stablecoin Pegged to US Dollar
August 07, 2023  |  Cryptocurrency

PayPal has introduced a U.S. dollar-pegged stablecoin amid new regulations around digital currencies. Announced Monday (Aug. 7), PayPal USD is “designed to contribute to the opportunity...

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Report: Binance Vets Say Exchange Commingled Funds
Report: Binance Vets Say Exchange Commingled Funds
May 23, 2023  |  Cryptocurrency

Binance took to Twitter Tuesday (May 23) to attack reports that it commingled funds. Earlier Tuesday, Reuters issued a special report citing unidentified former company...

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White House Economic Report Shifts Stance on Crypto From Neutral to Negative
White House Economic Report Shifts Stance on Crypto From Neutral to Negative
March 23, 2023  |  Cryptocurrency

It’s increasingly looking like the fed is trying to put the crypto sector to bed. This, as a new report authored by the White House Council...

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Four Crypto-Related Firms Cut Ties With Silvergate Capital
Four Crypto-Related Firms Cut Ties With Silvergate Capital
March 02, 2023  |  Cryptocurrency

Four crypto-related firms said Thursday (March 2) that they are cutting ties with Silvergate Capital. The announcements made by Coinbase, Circle, Gemini and Paxos come a...

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Regulators Clear Stablecoin Path for Reluctant Banks 
Regulators Clear Stablecoin Path for Reluctant Banks 
February 15, 2023  |  Payment Methods

The regulators’ crackdown may chill private firms’ clamor to mint and issue stablecoins. And pave the way for banks to take the lead in stablecoin...

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SEC and NYDFS Heat Puts Binance-Branded Paxos Stablecoin on Ice 
SEC and NYDFS Heat Puts Binance-Branded Paxos Stablecoin on Ice 
February 13, 2023  |  Cryptocurrency

The U.S. Securities and Exchange Commission (SEC) is doubling down on its regulation-by-enforcement approach. It is also getting a little local help from the New...

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Mastercard’s Crypto Arm Targets FIs Seeking Customer Trading Offerings
Mastercard’s Crypto Arm Targets FIs Seeking Customer Trading Offerings
October 25, 2022  |  Cryptocurrency

Mastercard moved into the business of providing the backend tools and support to let financial institutions offer retail customers white-label cryptocurrency trading and custody services...

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Today in the Connected Economy: Mastercard, Paxos Help Banks Trade Crypto
Today in the Connected Economy: Mastercard, Paxos Help Banks Trade Crypto
October 17, 2022  |  Connected Economy

Today in the connected economy, Mastercard begins a new phase of its collaboration with cryptocurrency platform Paxos by offering banks help in improving their crypto...

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