360M+ consumers can now access digital assets via Paxos Infrastructure
Paxos has a clear and ambitious mission: to replatform the financial system so that any asset can move anywhere, at any time, in a trustworthy way. The global financial system is complex, expensive and archaic. It takes too much time and money to transfer value from one person to another; did you know that when you pay for a coffee with a credit card at your local shop, it takes two to five days for the business owner to be paid? Clearly, our work is cut out for us. And that’s why Paxos is rebuilding the underlying plumbing (or infrastructure) so that all assets are as easy to move as a text message or email – empowering anyone to do it inexpensively within fractions of a second.
2021 was remarkable for digital assets. From DeFi and NFTs to the increasing prices of Bitcoin and Ethereum, interest in digital assets has soared to new, unfathomable heights and dominated the public discourse. And no other company had a greater impact on consumer access to digital assets than Paxos.
Over the course of the year, we brought our regulated products, Paxos Crypto Brokerage and Pax Dollar (USDP), to global enterprises like Mastercard, Venmo, Interactive Brokers, Novi by Meta, Mercado Libre and more. By adopting our solutions, these trusted brands have enabled consumer access to digital assets on a scale never seen before. Leading banks and trading operations like Bank of America, ABN Amro and Koch adopted our settlement solutions to modernize their critical back-office functions. Whether it’s everyday consumers or the most complex financial institutions, Paxos infrastructure and products have touched hundreds of millions around the world.
If last year was the tip of the iceberg, 2022 will reveal the prime time adoption of digital assets and financial services. Paxos takes a partnership approach to every client engagement. Your success is ours – we’re only able to accelerate mainstreamification and create an inclusive digital financial system in close concert with our customers. By partnering with the savviest and most innovative enterprises, we’ll improve the financial lives of billions globally. Paxos is proud to build the transformative financial market infrastructure that will change the way money moves. We’re just getting started.
Our team is diverse and global. In 2021, our offices in New York, London and Singapore moved to a “remote first” standard, allowing us to recruit top talent from around the world. We now have more than 220 employees across the US and around the globe. And we are hiring! If you are interested in working at Paxos, check out our open roles today.
We believe the future of finance will be powered by tokenized financial market infrastructure. Paxos aspires to enable all asset holders – from the largest financial institutions to the individual consumer – to transact assets with the highest levels of trustworthiness, transparency and speed. By creating tokenized FMI to move assets, we can create a more open and less costly economy that is accessible to anyone at any time. In 2022, we’ll make important progress against our goals as we introduce more product functionality and enable more enterprise partnerships.