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PAXOS

Regulated
United States
,
Since 2012
Last Updated:
83/100
Overall Score

Trading Conditions

Min Deposit:
USD100
Max Leverage:
500
Account Types
Standard Account

User Reviews

Total Reviews
This Month
Avg Rating

Funding Methods

8 methods

Wire Deposit

wire transfer
1 days
Fee:
Free
Fee:
Free

CUBIX Deposit

wire transfer
hours
Fee:
Free
Fee:
Free

Crypto Deposit

crypto
hours
Fee:
Free
Fee:
Free

BTC Withdrawal

crypto
1 hours
Fee:
Free
Fee:
Free

ETH/ERC20 Withdrawal

crypto
hours
Fee:
Free
Fee:
Free

BCH Withdrawal

crypto
3 hours
Fee:
Free
Fee:
Free

LTC Withdrawal

crypto
1 hours
Fee:
Free
Fee:
Free

SOL/SPL Withdrawal

crypto
hours
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 92%, 2: License 72%, 3: Software 0%, 4: Spread 0%, 5: Account Type 0%, 6: Symbol 0%
Regulation
92%Excellent
License
72%Good
Software
0%Poor
Spread
0%Poor
Account Type
0%Poor
Symbol
0%Poor

Company Information

Full Name:Paxos Trust Company, LLC
Founded:2012
Headquarters:United States
Enterprise Offices:1offices

Customer Support

Phone:
1-800-342-3736
Live Chat:
business_hours
Response Time:
Languages:
English
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Broker Summary

Summary of the broker

Introduction

PAXOS is quite distinctive in the financial service sector in terms of being a regulated blockchain platform for tokenization to enable the instantaneous and reliable transfer of assets. Right from its foundation, it is essential to note that PAXOS aims to connect traditional finance with the new world of digital assets through an array of specialized products for institutional clients. This is quite distinct within the novel context of blockchain-based financial service delivery.

With the presence of global infrastructure and the goal of being driven by trust and transparency, PAXOS has the ability to provide the whole range of blockchain-based services that involve the likes of stable coins, crypto brokerage, tokens, and custody services.

Background and History

PAXOS was founded in the year 2012 by Charles Cascarilla, who is the existing CEO. PAXOS had developed into a world leader in the field of blockchain infrastructure from a startup. PAXOS has offices in New York, London, and Singapore. This indicates the global nature of the company. The company has been developing with a focus on a particular vision. This vision revolves around the transfer of any asset to any person with trust.

This mission is achieved through the creation of regulatory-compliant blockchain products, which primarily serve the enterprise market. PAXOS has primarily been a product of a philosophy that emphasizes regulatory compliance, along with partnerships with large financial institutions, which have helped create trust in a domain where regulatory ambiguity is often a challenge.

Key Features & Offerings

Robust Product Offering

#

The PAXOS range of regulated blockchain products caters to the needs of institutional clients and business firms. The products offered by the company are:

• Stablecoin Payments: PAXOS enables the creation of stablecoins for smoother payments and settlements.

• Crypto Brokerage: This refers to the API-based brokerage and custody platform that allows partners to provide their end-users with crypto-currency buying, selling, holding, and transferring services.

• Tax Gold (TAXG)

• 斗碗幣 (DOW)

• Pax Gold (PAXG)

• Lynk Gold (LGYD)

• BUSD Legacy Management: Although PAXOS ceased minting new BUSD coins, PAXOS still offers services to redeem and convert legacy BUSD wallets.

• Custody and Trust Services

The services are delivered through the Paxos Trust Company and encompass secure and bankruptcy remote custody solutions.

Crypto Brokerage API

________________

Crypto Brokerage, a product of PAXOS, can be considered the foundation of its enterprise solution set. This product gives partners the ability to integrate cryptocurrency services into their platforms, offering end-users wallet creation, trading, custody, liquidity, and compliance functionality via powerful APIs. Crypto Brokerage takes an infrastructure approach that enables businesses to provide cryptocurrency services without necessarily developing the technology.

Pax Gold (PAXG

PAXG is an innovative token that links conventional assets with blockchain technology. Every PAXG token is backed by one ounce of physical gold, which is warehoused in approved vaults by the London Bullion Market Association. Audits of the gold holdings are conducted on a monthly basis, giving assurance of trust, whereas the owner of the token owns the physical asset, which is custodied by the Paxos Trust Company.

Regulatory Compliance and Licensing

The approach that PAXOS takes is “regulation-first,” with adherence and regulation being the core of the operations. They have operations under various regulations around the globe such that all products are of high standards.

The key regulatory highlights relate to the fact that Paxos Trust Company is a trust and a custodian that operates under regulation, that itBit is supervised as an exchange by the Department of Financial Services of New York State, and Monetary Authority of Singapore licenses it as a major payments institution.

Regulator License / Charter Status / Notes

Office of the Comptroller of the Currency (OCC) permalinkOCC Trust Charter Covers platform and custody services

Monetary Authority of Singapore (MAS) Major Payments Institution License Regulatory license for payments services

Although PAXOS does not provide the actual list of license numbers or the regulatory filings on its official website, it guides the users to the official regulatory authorities, like the New York DFS, to which users can complain.

Trading Conditions and Technology of the Trading Platform

Trading Platforms and Infrastructure

PAXOS provides more of a "infrastructure and APIs" offering, and less of a "trading platform" offering. The company’s offering, "Crypto Brokerage," is intended to be integrated with third-party partners who can then offer cryptocurrency trading and storage services via their own platform.

The itBit exchange is PAXOS's regulated marketplace, providing institutional-grade functionality including strong fiat-crypto market depth, flat transaction charges, and regulation by the New York DFS. PAXOS supports API and OTC desk trading access for institutional customers. Security is a key aspect of PAXOS.

Platform Features Overview

Therefore,

Attribute Crypto Brokerage

Platform Type API infrastructure for partners Regulated trading venue/exchange

Trading Access Wallet creation, buy/sell, custody Trading for institutional traders, O

"The OCC Trust Charter" and "MAS license" would be subject to "New York

Fees Contractual, partner-specific Flat fee per transaction, with no withdrawal fees for

Custodydistribution Via Paxos Trust Company joint custody

Market Analysis

The details regarding the retail trading parameters are not made publicly known by PAXOS. As PAXOS primarily deals with the enterprise and institutional clients, the cost and procedures regarding the trading are often not made publicly known.

Fee Structure

In contrast, there is no detailed fee schedule provided by the company, especially for the retail customer category. Conversely, the fee structure of the enterprise products, such as the Crypto Brokerage Service, is determined directly with the partner or institutional customers.

Regarding the itBit exchange, the company claims that there are flat fees per trade and that there are no fees to withdraw cryptocurrencies, although the fees are not specified within the publicly available website.

Fee Type Description A

Deposit Fees Information not publicly disclosed Contractual

Withdrawal Fees No withdrawal fees for cryptocurrencies on itBit Cannot be quantified, as stated by the

Transaction Commissions The flat rate on itBit Commission rates are not precisely defined

Inactivity Fees Not disclosed Limited information available

User Experience & Market Reputationsession-id="

The reputation of PAXOS looks to be primarily established with regard to regulation, partnerships with enterprises, and technology, instead of consumer feedback. PAXOS boasts partnerships with leading financial institutions such as PayPal, Mastercard, and Interactive Brokers.

Although the PAXOS website does not offer user reviews or consumer reviews, the platform presents complaint mechanisms that are compliant with regulations and urges users to direct complaints or questions to the New York DFS. Such openness showcases the commitment of PAXOS to being accountable.

Recent Developments

Recent developments associated with PAXOS include strategic product announcements and regulatory notices. In this regard, PAXOS has stopped minting new BUSD stablecoins while still allowing redemption and conversion services for existing BUSD stablecoin holders. The decision comes as PAXOS adjusts to changes in their operating environment.

PAXOS is also increasing its enterprise services and partnerships, which is evident through the press releases they have on their website. This shows innovation in the company, which aims to provide a regulated infrastructure for the use of blockchain.

Conclusion

PAXOS symbolizes an intelligent and regulatory-compliant participant in the blockchain market as well as the financial services space. Founded on the principles of proper compliance, enterprise-class technology, as well as tokenized assets, its major target comprises institutional clients.

Although the specifics of trading terms and fees are not shared, the focus of PAXOS on regulation, custody, and API solutions puts the company at an advantage in terms of partner choice for any firm looking to incorporate digital assets into their financial systems. Given the increasing adoption of blockchain, the ambition of PAXOS to move assets instantly in a trustful way is very valuable.

Regulatory Licenses

Compliance & oversight

6 licenses
United States
NFATier 1
United States#Charter Number 25379
License Details
Type:Financial Service
License #:Charter Number 25379
Status:Regulated
Validity
Effective:N/A
Expires:N/A
United Kingdom
FCATier 1
United Kingdom
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
Singapore
MASTier 1
Singapore
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
United States
SECTier 1
United States#AKMT-18637
License Details
Type:Financial Service
License #:AKMT-18637
Status:Regulated
Validity
Effective:N/A
Expires:N/A
United States
SECTier 1
United States#MT-2011611
License Details
Type:Financial Service
License #:MT-2011611
Status:Regulated
Validity
Effective:N/A
Expires:N/A
United States
SECTier 1
United States#MT-1766787
License Details
Type:Financial Service
License #:MT-1766787
Status:Regulated
Validity
Effective:N/A
Expires:N/A
6
Tier 1
3
Countries
0
Offshore

Account Types

Trading account options

No Account Types

Account type information is not available for this broker yet.

Funding Methods

Deposit & withdrawal options

8 methods
Wire Deposit
Wire Transfer1 min
Deposit
Fee:Free
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
Wire deposits apply to Auto-Transfer functionality; incorrect wire instructions may result in return of funds. Third-party bank fees may apply.
CUBIX Deposit
Wire Transferhours
Deposit
Fee:Free
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
No fees for withdrawals; available U.S. and international.
Crypto Deposit
Cryptocurrencyhours
Deposit
Fee:Free
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
Processing time depends on blockchain confirmations (e.g., BTC ~30 min, ETH ~3 min, SOL ~16 sec).
BTC Withdrawal
Cryptocurrency1 min
Deposit
Fee:Free
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
3 confirmations required for deposits; fees are network fees in BTC.
8
Free Deposit
8
Instant
6
Crypto

Live Spreads & Trading Costs

Compare real-time spreads on major currency pairs

Spreads are the core trading cost with PAXOS: the difference between the bid and ask price you pay on every trade. Tight, stable spreads on major pairs like EUR/USD, GBP/USD and USD/JPY mean lower costs for scalpers, day traders and long-term investors alike.

  • Live spread table for six major currency pairs, refreshed every few seconds
  • Excellent / competitive / high ratings so you can benchmark PAXOS at a glance
  • Bid, ask and pip-change data to estimate your real cost per trade
View live spreads for PAXOS

Spread data is indicative and for comparison purposes only

Global Domains

Worldwide web presence

5 sites
🌐
https://dashboard.paxos.com/login
Unknown
Active
SSL
🌐
https://support.paxos.com
Unknown
Active
SSL
🌐
https://docs.paxos.com/
Unknown
Active
SSL
🌐
https://faucet.paxos.com/
Unknown
Active
SSL
5
Active
1
Countries
100%
SSL

Social Presence

Digital community engagement

2 platform

Corporate Network

Enterprise structure & relationships

1 entities

Paxos Trust Company, LLC

United States
active

Registration

N/A

Established

N/A

Comments

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