Paxos partners Fierce to improve its digital asset experience

Monday 8 May 2023 09:07 CET | News

US-based regulated blockchain infrastructure company Paxos has partnered with super app Fierce to improve its digital asset experience.


The primary goal of the partnership is to improve the capabilities of Fierce’s super app by giving users the ability to trade Bitcoin and Ethereum, as well as other digital assets in the future. Fierce’s super app incorporates a suite of fintech solutions as well as products and services such as an FDIC-insured checking account, a no-fee Debit Card, and fractional stock and ETF trading with the ability to passively earn interest on shares. 

As for the Paxos crypto brokerage, it includes qualified custody, licensing and trading capabilities, and it allows enterprises to safely enable their users to engage with and benefit from the digital asset ecosystem. 

In the official press release, Paxos representatives brought up the capabilities of the Paxos platform as well as its ability to help global leaders in financial services build their blockchain and digital asset solutions by managing the licensing, trading, and technical complexity so that clients can focus on creating great user experiences. By partnering with Fierce, Paxos will ensure that users benefit from great prices as well as adequate consumer protections that keep their assets safe and accessible. 

Fierce representatives highlighted how the Paxos collaboration will allow their users to navigate between cash, crypto, and stocks to meet their ever-changing financial needs. They also revealed their plans to collaborate with Paxos in the future to facilitate access to more cryptocurrencies as well as real-world assets such as tokenized gold.


US-based regulated blockchain infrastructure company Paxos has partnered with super app Fierce to improve its digital asset experience.


Other developments from Paxos

Paxos uses technology to tokenize, custody, trade and settle assets. It builds enterprise blockchain solutions for institutions such as PayPal, Interactive Brokers, Mastercard, MercadoLibre, Nubank, Bank of America, and Societe Generale. In February 2023, the company has ended its partnership with cryptocurrency exchange Binance and stopped the minting of BUSD. 

BUSD is a Binance-branded stablecoin that was created following a collaboration between the two companies. Paxos stopped BUSD minting on 21 February 2023. The developments came in the context of Paxos’ issues with the Securities and Exchange Commission and the New York Department of Financial Services, which instructed the company to stop creating the token.   

Paxos officials cited by Yahoo maintained that the company continues to keep a strong regulatory capital in order to protect customers and that its corporate balance sheet is able to support its business goals in the long term. They also revealed that, even though they will no longer be partners with Binance, this will not affect their ability to continue serving new or existing customers. 

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Keywords: partnership, blockchain, super app, digital assets
Categories: DeFi & Crypto & Web3
Companies: Fierce, Paxos
Countries: United States
This article is part of category

DeFi & Crypto & Web3




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