Paxos

[ pak-sos, -sohs ]

noun

1. one of the Ionian Islands, off the NW coast of Greece. 7 sq. mi. (18 sq. km).

Example Sentences

In February, the New York Department of Financial Services ordered issuer Paxos to stop minting the token, which was once the third-largest stablecoin.

From Reuters

PayPal USD will be issued by digital trust company Paxos Trust, backed by dollar deposits and U.S Treasuries, and subject to oversight by the New York State Department of Financial Services.

From Reuters

Stablecoin issuer Paxos and crypto exchange Gemini tweeted they do not have any relationships with SVB.

From Reuters

The revelation led crypto-trading firms to publicly distance themselves from Silvergate, including Coinbase, Paxos Trust Galaxy Digital Holdings and Bitstamp, among others.

From Seattle Times

On Wednesday, Paxos Trust said in a statement it has “virtually no exposure to Silvergate … As a regulated institution, Paxos has always focused on protecting customers’ funds so banking redundancy is built into our platform.”

From Seattle Times