In short: Paxos issues PYUSD, USDG (issuing entity: Paxos Trust Company, N.A. (OCC); Paxos Digital Singapore Pte. Ltd; Paxos Issuance Europe Oy). Headquarters: New York, US. Status: Active. Licences on record: 4 (4 authorised; 1 confirmed on a regulator's official public register). Reserve reports: monthly (KPMG LLP). Reference data as of 2026-10-26.
Paxos 1 Verified
Paxos Trust Company, N.A. (OCC); Paxos Digital Singapore Pte. Ltd; Paxos Issuance Europe Oy
StatusActive
VerificationVerified
CoveragePartial
Licences4 / 4
SRS69
Profile as of2026-10-26
Regulatory Compliance Score
Weighted from public, sourced inputs · 94% of inputs available
Not legal advice; algorithmic assessment from public sources.
USDG peg · 7 daysCoinGecko sparkline · deviation vs $1 · shaded band ±0.5% LIVE
Pins: computed 7d high/low. No reference events dated within this window.
◎Peg deviation (live)+0.9 bps
$Supply 30d → now (DefiLlama)$6.00B
↔24h volume (CoinGecko)$428.0M
⛓Chains with supply23
Company
HQNew York, US
Founded2012
LeadershipCharles Cascarilla (Co-founder, CEO)
ModelFiat-backed (USD)
Websitepaxos.com ↗
Products & supply LIVE
USDG$3.15B · 0.9 bps
PYUSD$3.02B · -0.0 bpsTotal (CoinGecko)$6.17B
30d ago$5.95B
7d ago$5.85B
1d ago$6.02B
now$6.00B
7d price deviation (bps):
Distribution
Supply by chain · DefiLlama (live)
Products REFERENCE · issuer official site · as of 2026-10-26
PYUSD
PayPal USD stablecoin issued by Paxos
USDP
Pax Dollar stablecoin
Stablecoin issuance
White-label stablecoin issuance
Stablecoin payments
Stablecoin payments infrastructure
BUSD
Binance USD (minting ended Feb 2023)
Official partners (0) REFERENCE · issuer official site · as of 2026-10-26
Checked: No partner directory: paxos.com navigation (Products, Assets, Company, Developers) has no partners page; /partners/ shows the contact page.
Licences & authorisations worldwide (4 · 1 ✓ verified on register) REFERENCE · regulator registers / issuer disclosures · as of 2026-10-26
| Jurisdiction | Regulator | Licence / status detail | Date | Status | Evidence |
|---|---|---|---|---|---|
| US | OCC | National trust bank charter No. 25379 (converted from NYDFS trust 12 Dec 2025) | 12 Dec 2025 | Authorized | Reported |
| US | SEC | Registered clearing agency (Paxos Securities Settlement Co.) | 28 May 2026 | Authorized | Reported |
| SG | MAS | Major Payment Institution (DPT services) — USDG issuer | — | Authorized | Reported |
| EU-FI | FIN-FSA | Electronic Money Institution No. 32368862 — USDG EMT issuer | — | Authorized | Verified |
Reserves, custody & attestation
AssuranceMonthly attestation by KPMG LLP (since 28 Feb 2025; previously WithumSmith+Brown)
Audit / attestation firmKPMG LLP
FrequencyMonthly
Composition (per issuer)Cash, US T-bills, overnight reverse repo (per Paxos)
CustodiansPer Paxos reserve reports
Latest disclosedSee monthly PYUSD attestations
Evidencereport ↗
Redemption terms
1:1 redemption for Paxos platform customers; PayPal/Venmo users via PayPal
Controls: freeze / clawback / admin
freezeAsset-protection role (freeze)
clawbackwipeFrozenAddress
multisigAdmin roles
upgradeUpgradeable proxy
Frozen / blacklisted / seized
| Metric | Value | Source | As of |
|---|---|---|---|
| PYUSD blacklist events (Ethereum) | 234 | Dune @beetle ↗ | 2026-05 |
Government & public sector partnerships REFERENCE · issuer newsroom / official government sites · as of 2026-10-26
None officially announced (official newsroom checked 2026-10-26).
Government & law-enforcement cooperation
Freeze capability
PYUSD contract has asset-protection freeze; 234 blacklist events on Ethereum (Dune, as of May 2026)
source ↗Regulatory actions & enforcement history
ResolvedNYDFS consent order: $26.5M penalty + $22M compliance investment (AML failures, Binance/BUSD due diligence)2025-08-07 ↗
AI-agent payments
PayPal Agentic Commerce Services · Oct 2025
PayPal merchant agentic commerce (card/PayPal rails; PYUSD role not specified)
source ↗Partners
PayPal (PYUSD brand)KPMG (attestation)Global Dollar Network (USDG)
Reference fields compiled 2026-10-26 from linked sources. Items marked “verify” or “per issuer” are not independently confirmed. Not legal or investment advice.