Tracker Charts Companies Regulation Insights Monthly

Binance / Paxos

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.

Founded2012
CEOCharles Cascarilla
StagePrivate
FoundersCharles Cascarilla
Websitewww.paxos.com ↗

Products

BUSD active $283M
Binance USD
Fiat Backed

BUSD was a USD-pegged stablecoin issued by Paxos Trust Company, LLC under the Binance USD brand. Paxos halted new issuance in February 2023 after direction from NYDFS and began winding down the product.

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.

Regulatory Status

New York, United States
Limited purpose trust company charter
GENIUS Act ↗
chartered and supervised2015