Company explainer

What Is Paxos?

Paxos issues stablecoins for other brands, including PayPal's PYUSD and the Global Dollar (USDG). Since December 2025 it is an OCC-regulated national trust bank.

Updated November 6, 2026

Short answer

Paxos is a regulated blockchain infrastructure company that issues stablecoins on behalf of brands. It is the issuer of PayPal USD (PYUSD), Global Dollar (USDG), Pax Dollar (USDP) and Pax Gold (PAXG), and converted to a national trust bank supervised by the OCC on December 12, 2025.

What Paxos does

Paxos is a white-label issuer: a company like PayPal brands and distributes the stablecoin, while Paxos mints and redeems it, holds the reserves and publishes monthly attestations. Reserves for USDG and PYUSD are held in U.S. dollar deposits, Treasuries and cash equivalents. Businesses can mint and redeem directly with Paxos at no fee.

Stablecoins issued by Paxos

  • PayPal USD (PYUSD): PayPal's stablecoin, with 4% rewards for eligible U.S. holders
  • Global Dollar (USDG): issued in Singapore and the EU, backed by the Global Dollar Network of partners, on chains including Ethereum, Solana, Arbitrum and Robinhood Chain
  • Pax Dollar (USDP) and Pax Gold (PAXG), a token backed by physical gold

Regulation

Paxos received the industry's first limited-purpose trust charter from New York's NYDFS in 2015 and converted it to an OCC national trust charter on December 12, 2025, putting PYUSD under federal oversight ahead of the GENIUS Act taking effect. Paxos also holds licences in Singapore and, for MiCA, in Finland. See which companies have a stablecoin.

FAQ

Paxos, answered

What is Paxos?

Paxos is a regulated blockchain infrastructure company that issues stablecoins for other brands, including PayPal USD (PYUSD) and Global Dollar (USDG). Its U.S. entity, Paxos Trust Company, N.A., is a national trust bank supervised by the OCC.

Does Paxos issue PYUSD?

Yes. Paxos is the issuer of PayPal USD. PayPal brands and distributes it; Paxos mints, redeems and holds the reserves.

What is USDG?

Global Dollar (USDG) is a U.S. dollar stablecoin issued by Paxos in Singapore (supervised by MAS) and in the EU under MiCA, supported by a network of partner companies.

Is Paxos a bank?

Paxos Trust Company is a national trust bank regulated by the OCC since December 12, 2025. It is not a deposit-taking bank, and stablecoins it issues are not FDIC insured.

Sources: Paxos newsroom (December 12, 2025); Paxos regulatory record; Global Dollar (USDG) issuer page; PayPal PYUSD page. Not investment advice.

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