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Paxos

Paxos Trust Company is a financial technology firm based in the United States. It issues and manages stablecoins, which are digital tokens designed to hold a steady value against a reference asset such as the US dollar. Among the tokens it issues is PayPal USD (PYUSD).

Paxos operates as a regulated trust company. It holds reserves meant to back the stablecoins it issues, and it publishes attestations, which are third-party reports describing the assets held in reserve. These reports are intended to give holders visibility into how each token is backed.

A stablecoin from any issuer depends on the quality of its reserves and on the issuer meeting its obligations. Regulatory status can change over time, and holding a stablecoin carries risk, including the possibility that a token trades away from its intended value.

Related terms: PYUSD · Stablecoin · Reserves and attestation

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