Paxos
Paxos Gold (PAXG) saw record inflows as investors flocked to tokenized gold for on-chain exposure. An expert noted tokenized gold enhances the metal’s usefulness while bitcoin behaves more like a risk asset amid market uncertainty.
PAXG's market cap surpassed $2 billion after demand for tokenized gold surged 450%, pushing the token to $4,997. Paxos explained how physical gold is converted into PAXG and emphasized redeemability and custody safeguards.
Paxos announced on Tuesday that it has acquired Fordefi as part of a push to broaden its custody offerings for institutional clients. The deal brings Fordefi’s custody technology and team into Paxos’ regulated infrastructure.
Paxos CEO Charles Cascarilla told the Federal Reserve’s Payments Innovation Conference that stablecoins have the potential to disrupt and reshape global payments. His remarks framed the technology as a driver of faster, cheaper cross-border transfers and deeper engagement between industry and regulators.
Citi Ventures has strategically invested in BVNK to help scale its stablecoin infrastructure worldwide. With BVNK already processing $15 billion in annualized transactions and plans to expand stablecoin payments across all 50 U.S. states, this partnership highlights the growing adoption of stablecoins in business transactions.
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