Paxos

Paxos is an OCC-chartered national trust bank offering white label stablecoin issuance to payment companies and banks.

Paxos issues and manages stablecoins and other tokenized assets for clients under their own brand. It issues PayPal USD (PYUSD) under its white label model, alongside its own Global Dollar (USDG), Pax Dollar (USDP) and the gold-backed Pax Gold (PAXG). Paxos says it issues white label and partner assets only, keeps reserves segregated and bankruptcy-remote, and has them attested monthly by an independent auditor. Other products include custody and wallets, crypto brokerage, stablecoin payments, mint and redeem, and a rewards engine that pays holders daily.

The U.S. issuer is Paxos Trust Company, National Association. The OCC conditionally approved its conversion from a New York trust company to an uninsured national trust bank on December 12, 2025, under charter number 25379, and later named it among approvals that include stablecoin issuance. Paxos says the conversion took effect the same day, moving its U.S. activity from New York Department of Financial Services supervision to the OCC.