Paxos Company Intelligence

2020-2021 saw an acceleration of large financial institutions and payment companies expanding their support for cryptocurrency and blockchain services. Powering the backend infrastructure of many of these expansion efforts is Paxos, a firm that, until more recently, shied away from the media spotlight that other crypto firms like Coinbase and Binance have basked in.

Founded in 2012 by Charles Cascarilla and Rich Teo as itBit (before a 2016 rebrand), Paxos has a host of products and services under its umbrella. The firm has six primary product lines. According to details shared with The Block Research by Paxos, thousands of institutional clients use its products and services.