Users deposit funds into Paxos account and receive BUSD or USDP at a 1:1 rate.

Paxos is a financial technology company that is the principal architect of BUSD & USDP - full-reserve fiat stablecoins that bring US dollar liquidity on-chain.

Paxos is a private company registered in the US. Paxos' investors include OakHC/FT, Declaration Partners, Mithril Capital and PayPal Ventures etc.

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Paxos

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Financial statement

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Paxos - Financial statement