Paxos Trust Company, LLC is a New York limited purpose trust company supervised by NYDFS. Paxos issued Binance USD under the Binance brand until NYDFS directed Paxos to cease minting new BUSD in February 2023.
| Product | Backing | Status | Market cap |
|---|---|---|---|
| BUSDBinance USD | Fiat Backed | Active | $34M |
| Legal name | Paxos Trust Company, LLC |
| Founded | 2012 |
| Stage | Private |
| CEO | Charles Cascarilla |
| Founders | Charles Cascarilla |
| Regulatory status | Jurisdiction New York, United States · License type Limited purpose trust company charter · Status chartered and supervised · Issued 2015 |
| Website | https://www.paxos.com/ |
## Overview Paxos Trust Company, LLC is a New York limited purpose trust company supervised by NYDFS. Paxos issued Binance USD under the Binance brand until NYDFS directed Paxos to cease minting new BUSD in February 2023. ## Products Stablecoins issued by this entity: BUSD.