Paxos

Stablecoins are how you bring the US dollar into the 21st century.

Paxos applauds the Senate for voting “yes” on cloture for the Genius Act tonight.

This is major - and long overdue - progress.

Paxos supports the upcoming cloture vote on the GENIUS Act. It’s time for a federal framework for stablecoins and this is an important step forward. We thank @SenatorHagerty, @SenLummis, @gillibrandny and all the other offices involved for their leadership. 🇺🇸

As the Senate gets ready to consider GENIUS - a potentially landmark piece of stablecoin legislation - lawmakers should pay close attention to the risks posed by Section 10 on custody in the current section of the bill; it should be a concern to everyone worried about bailouts.

The language in Section 10 recreates the very risks that led to the failures of Silicon Valley Bank (SVB) and Signature Bank. The so-called “commingling exceptions” allow customer stablecoin reserves to be pooled in omnibus accounts at banks and treated as general deposit liabilities - erasing the line between custodied assets and institutional risk. In a stress event, customers won’t distinguish between segregated and bank-exposed funds, triggering panic withdrawals - just like SVB.

Worse, the current language permits regulators to authorize further commingling by rule, opening the door to regulatory capture. While it offers priority to customer claims, that’s meaningless if the assets aren’t truly separated and traceable.

This isn’t custody. It’s systemic risk in disguise.

For 1.4B unbanked or underbanked people around the world, access to dollars feels out of reach.

Stablecoins can change that.

Stablecoins just hit a new all-time high: $240B in global supply.

The next chapter of digital finance is being written.

Stablecoins are the passport for dollars in a digital world.

Money that moves like email.

That’s the promise of stablecoins.

What if stablecoins worked for the whole ecosystem, and not just the issuer?

The @global_dollar Network is making that vision a reality. Here’s how: 🧵

Stablecoins are rewriting global payment rails.

And they’re open to anyone with an internet connection.

Stablecoin total market cap by year:

⚬ 2017: $110K
⚬ 2018: $541.4M
⚬ 2019: $4.2B
⚬ 2020: $25B
⚬ 2021: $150.8B
⚬ 2022: $139.5B
⚬ 2023: $123.6B
⚬ 2024: $203.7B
⚬ Today: $229.6B

Data from @artemis, based on the last week of each year.

Stablecoins make global payments move at the speed of the internet.

On chain finance isn’t just faster.

It’s smarter, cheaper and more transparent.

Congratulations to @FinancialCmte, @RepFrenchHill, and @RepBryanSteil for all their hard work on the STABLE Act – tomorrow’s markup is an important step toward finally getting a robust, meaningful framework in place for stablecoin issuers.

Let’s keep the United States the preeminent home for financial innovation. We look forward to seeing the STABLE Act move forward.

Amid market uncertainty, $PAXG shines bright — soaring to all-time highs in both price and market cap.

The internet revolutionized communication.

Blockchain is revolutionizing value exchange.

🎙️ New Podcast

Paxos CEO, Charles Cascarilla, joined The Joys of Compounding pod to discuss how blockchain can solve fundamental financial system challenges, and much more.

🔗:

Stablecoin market cap is at an all time high, breaching $230B, per @DefiLlama.

• Grown 13% YTD
• Up 56% YoY
• Equivalent to ~1% of the M2 money supply

Stablecoins aren’t replacing the dollar. They are making it stronger.

Stablecoin market cap is at an all time high, breaching $230B, per @DefiLlama.

• Grown 12% YTD
• Up 36% YoY
• Equivalent to ~1% of the M2 money supply

Stablecoins aren’t replacing the dollar. They are making it stronger.

Imagine losing 10% of your income to bank fees, or having no safe place to store your paycheck.

For 1.4 billion unbanked or underbanked people across the globe, this is reality.

Here’s how stablecoins can rewrite this story: 🧵