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Paxos

Provider
Crypto / StablecoinCrypto CustodyFX / Payouts

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 9 companies across 3 categories.

paxos.com ↗Also analysed as a company — its own stack →
CategoriesCrypto / Stablecoin, Crypto Custody, FX / Payouts
Rank#9 of 57 in Crypto / Stablecoin
Buyers9 companies
HeadquartersNew York, NY, USA
Founded2012
Raised$543.3M
RegulatoryConditional approval · Conversion to national bank

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Founders & story · from Paxos’s own dossier

Founded as itBit in 2012, Paxos pivoted from being a Bitcoin exchange to becoming regulated blockchain infrastructure for financial institutions. The company repositioned itself as an issuer of regulated stablecoins (USDP, PAXG, PYUSD, USDG) and a white-label crypto brokerage provider for enterprises. By obtaining OCC national bank charter status, Paxos moved beyond trust-company licensing to become regulated banking infrastructure for stablecoin issuance, payments, and settlement at enterprise scale — effectively becoming the stablecoin-layer provider for companies like PayPal, Stripe, and others.

Latest round: Series D, April 2021
Recent developments
  • 2025-12Conditional approval · Conditional Approval 1358 · 2025-12-12 — Paxos Trust Company, LLC, conversion to national bank, OCC. Converts the NYDFS-chartered stablecoin issuer to a national trust bank. [charter] source ↗
  • 2024-10Paxos launched its Stablecoin Payments platform, offering enterprise APIs for stablecoin pay-ins and payouts; Stripe launched stablecoin payments using Paxos infrastructure and saw pay-ins from 70+ countries within 24 hours. source ↗
  • 2025-12Paxos updated its General Terms and Conditions and FDIC Pass Through Insurance Disclosures, reflecting its national bank charter entity (Paxos Trust Company, NA) and naming BMO Bank National Association and BNY Mellon as FDIC-insured deposit custodians. source ↗
Full dossier: Paxos’s own stack, layer by layer →
Charter application · Conditional approval
Paxos Trust Company, LLC → national bank · Conversion to national bank · OCC · New York, NY · filed 2025-08-12.
Conditional approval · Conditional Approval 1358 · 2025-12-12
Converts the NYDFS-chartered stablecoin issuer to a national trust bank.
OCC letter ↗
Who uses Paxos
9 companies disclose Paxos in their stack
PayPalTigerBeetleScott MalpassBraleIMPESA (Monibyte)ConfirmoAminaMercado LibreInteractive Brokers
Buyer mix · 9 of 9 classified
Fintech / Investment · 2Bank / Sponsor · 1Fintech / Consumer banking · 1Fintech / Crypto · 1Fintech / SMB banking · 1Infrastructure / BaaS · 1Infrastructure / Embedded Crypto · 1Marketplace / Two-sided · 1
US · 4LATAM · 2EU · 2
What the disclosures say
PayPal
“Paxos publicly lists PayPal as a customer.”
Scott Malpass
“IBS Intelligence reports Scott Malpass joined the Paxos board of directors.”
Brale
“Supports Brale-issued, Paxos, and Circle-issued stablecoins across 27+ chains.”
IMPESA (Monibyte)
“impesa.net/monibyte-app explicitly states: 'In April 2022, IMPESA incorporated the purchase & sale of cryptocurrencies through the integration of Paxos, a world class broker, into the App.' Monibyte App provides an integrated crypto wallet alongside the Visa Prepaid Card.”
Confirmo
“Partnership with Paxos mentioned in CFOtech article: 'Its partnership with Paxos allows it to...'. https://confirmo.com/product/payouts, https://cfotech.ie/story/confirmo-names-leaders-as-it-expands-in-europe-us”
View source · confirmo.com ↗
Amina
“ibsintelligence.com/ibsi-news/amina-taps-paxos-usdg-to-expand-regulated-stablecoin-offering/ — TIER 1 known customer listing confirming Paxos USDG partnership. aminagroup.com/corporates/payments and /corporates/lending reference crypto-fiat flows and crypto collateral.”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Paxos? Claim this profile above to unlock your own full list.
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Alternatives to Paxos

Other Crypto / Stablecoin providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Zero Hash25 buyers →Circle23 buyers →Bridge17 buyers →BVNK13 buyers →Fireblocks12 buyers →Tempo12 buyers →Lightspark9 buyers →MoonPay9 buyers →
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Ranked #9 of 57 in Crypto / Stablecoin — Embedded Finance Index 2026
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Paxos — frequently asked

Which companies use Paxos?

9 companies disclose Paxos in their stack in the Embedded Finance Index 2026, including PayPal, TigerBeetle, Scott Malpass, Brale, IMPESA (Monibyte), Confirmo, Amina, Mercado Libre and Interactive Brokers.

What does Paxos do?

Paxos is an embedded-finance provider in Crypto / Stablecoin, Crypto Custody and FX / Payouts. It ranks #9 of 57 Crypto / Stablecoin providers by disclosed buyers.

Is Paxos a bank?

Paxos has applied for a conversion to national bank charter for Paxos Trust Company, LLC → national bank with the OCC. Status: conditional approval (2025-12-12).

What are the alternatives to Paxos?

The most-disclosed Crypto / Stablecoin alternatives to Paxos are Zero Hash (25 buyers), Circle (23 buyers), Bridge (17 buyers), BVNK (13 buyers), Fireblocks (12 buyers) and Tempo (12 buyers).

Where is Paxos headquartered?

Paxos is founded in 2012 and headquartered in New York, NY, USA.

How much funding has Paxos raised?

Paxos has raised $543.3M in total.

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