Paxos
Regulated trust company that issues stablecoins and provides crypto brokerage and custody for businesses.
No project pays to be listed. How we rank
Paxos key facts
| Category | Crypto infrastructure for businesses |
|---|---|
| Chains | Ethereum, Solana, Ink, Mantle, X Layer and other public blockchains |
| Platforms | API |
| Launched | 2015, first NYDFS limited purpose trust charter for digital assets |
| Company | Paxos Trust Company, N.A., under OCC oversight since 2025 |
| Fees | No public rate card; zero fees to convert PYUSD to USD with PayPal and Paxos |
| US availability | Available in the US |
| Security audits | SOC 1 Type 2 and SOC 2 Type 2; penetration testing and third-party smart contract audits |
| Pricing | Zero fees to mint or redeem USDG and PYUSD with an institutional account |
What is Paxos?
Paxos is a regulated blockchain infrastructure company that issues stablecoins and tokenized gold and powers crypto brokerage and custody for other businesses. It issues PayPal USD (PYUSD), Global Dollar (USDG) and Pax Gold (PAXG). It received the first NYDFS limited purpose trust charter for digital assets in 2015; since 2025 Paxos Trust Company, N.A. is under OCC oversight.
How Paxos works
Paxos issues stablecoins and runs a platform businesses plug into.
A business wires USD in over Fedwire, SWIFT or CUBIX, and Paxos mints stablecoins against it. With orchestration rules, a matching bank deposit can be converted automatically and either kept in a Paxos profile or sent to an external wallet, for example USD to USDG straight onchain. Redemption runs the other way, turning stablecoins back into USD.
Different Paxos entities issue different tokens. PYUSD is issued by Paxos Trust Company for PayPal. USDG is issued by Paxos Digital Singapore, a Major Payments Institution supervised by the Monetary Authority of Singapore, and runs on Ethereum, Solana, Ink, Mantle, Robinhood Chain and X Layer. Paxos also sells white-label crypto trading infrastructure to brokerages.
How to start with Paxos
- Only businesses get direct accounts.
- You sign up at dashboard.paxos.com for an Institutional account, then submit organizational documents, ID for key personnel and KYC.
- Individual account holders are not eligible for API access.
- Developers can start in the sandbox at dashboard.sandbox.paxos.com with an email, business name, country of incorporation and a passkey; Paxos says sandbox accounts are usually approved within one business day.
- If you are an individual in the US, you reach Paxos products through partners, for example by holding PYUSD in PayPal, or by receiving USDG in any Ethereum or Solana wallet.
Paxos fees and limits
Paxos does not post a general rate card for brokerage or issuance. Its PYUSD page states zero fees to convert PYUSD to USD with PayPal and Paxos. Onchain transfers of any Paxos token still cost network gas, and partner apps may add their own spread or fees on top.
Risks to know before using Paxos
- Paxos says its tokens are backed 1:1 and held in bankruptcy-protected accounts.
- It self-reports reserve composition five business days after each month ends, and monthly attestations have been issued by KPMG LLP since February 28, 2025, and by WithumSmith+Brown before that.
- Those attestations are point-in-time checks, not full audits.
- On August 7, 2025, the New York Department of Financial Services announced that Paxos Trust Company would pay a $26.5 million penalty and invest another $22 million in compliance, citing anti-money laundering failures and weak due diligence on its former partner Binance.
- As a token holder, your claim runs to the issuing entity, which differs by token.
Paxos alternatives
Other projects people compare with Paxos.
API infrastructure that lets banks, brokerages and fintechs offer crypto, stablecoin and tokenization products.
Digital asset infrastructure company offering qualified custody, wallets, trading and stablecoin services.
Federally chartered crypto bank offering custody, trading, staking and stablecoin issuance to institutions.
Regulated digital asset infrastructure that fintechs, brokers and financial institutions use to offer crypto.
Institutional platform for digital asset wallets, custody, payments and tokenization, sold on monthly or annual plans.
Digital asset custody and wallet-as-a-service provider offering custodial, MPC, smart contract and exchange wallets.
Where Paxos ranks on DappAtlas
Listed next to Paxos
- Securitize Asset tokenization
- Superstate Asset tokenization
- Ondo Finance Asset tokenization
- Centrifuge Asset tokenization
- Maple Lending protocol
- Gemini Crypto exchange
Paxos pros and cons
- First NYDFS trust charter for digital assets, in 2015
- Issuer of PYUSD for PayPal
- Licensed as a major payments institution in Singapore
- Business-only; no retail accounts
- Pricing is not published
- End users reach it only through partner platforms
Paxos FAQ
What is Paxos?
Paxos is a regulated blockchain infrastructure company that issues stablecoins and tokenized gold and powers crypto brokerage and custody for other businesses. It issues PayPal USD (PYUSD), Global Dollar (USDG) and Pax Gold (PAXG). It received the first NYDFS limited purpose trust charter for digital assets in 2015; since 2025 Paxos Trust Company, N.A. is under OCC oversight.
Which chains does Paxos support?
Ethereum, Solana, Ink, Mantle, X Layer and other public blockchains.
How much does Paxos cost?
No public rate card; zero fees to convert PYUSD to USD with PayPal and Paxos, according to Paxos’s own page (checked Sep 26, 2026).
Is Paxos available in the US?
Available in the US, according to Paxos’s own page (checked Sep 26, 2026).
Does Paxos hold my funds?
Yes. Paxos is custodial: it holds the keys to your balance.
Sources
- Paxos: official site
- Paxos: Homepage
- Paxos: PayPal USD (PYUSD)
- Paxos: General Terms and Conditions
- Paxos: Security
- Paxos: Mint and redeem
- Paxos Docs: Getting Started with USDG
- Paxos Docs: Mint
- Paxos Docs: Create Developer Account
- Paxos Docs: Assets and Blockchains
- Paxos: PYUSD Transparency Reports
- Paxos: Global Dollar (USDG)
- NYDFS: Settlement with Paxos Trust Company, August 7, 2025
How this page works
Sources: Paxos: official site, Paxos: Homepage, Paxos: PayPal USD (PYUSD). Data as of Oct 1, 2026.
Not affiliated with any project listed. Educational content, not financial advice.