VASPCheck

VASP Compliance Summary — Paxos

Paxos Trust Company, LLC · Custodian · United States

Exported 2026-08-25

Data reviewed 2026-08-11

Overview

Compliance snapshot

Overall regulatory statusAuthorized

EU MiCA statusNot in scope

NYDFS limited-purpose trust charter — qualified custodian
MAS-regulated stablecoin issuance in Singapore; ADGM entity in Abu Dhabi
No retail Trustpilot presence — institutional counterparty
Monthly third-party reserve attestations published

Low concern

New York trust company and regulated stablecoin issuer with monthly reserve attestations and an institutional-only client base.

Authorizations

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
United States (NY)	New York State Department of Financial Services NYDFS · https://www.dfs.ny.gov/virtual_currency_businesses	Limited-purpose trust charter	Authorized	NY-TC-2015-0004	2015-09-10
Singapore	Monetary Authority of Singapore MAS · https://eservices.mas.gov.sg/fid	Major Payment Institution licence (stablecoin issuance)	Authorized	PS20230067	2023-07-19
Abu Dhabi	Financial Services Regulatory Authority FSRA · https://www.adgm.com/public-registers/fsra	Financial services permission (virtual assets)	Authorized	FSRA-2024-0031	2024-01-30

Reputation

Reputation scores

Trustpilot-style score3.5 / 5

Reviews210

App Storen/a

Google Playn/a

12-month trendflat

Press sentiment (12m)+5 / ~4 / −1

Media

Recent press

Date	Source	Headline & summary	Sentiment
2026-07-14	Bloomberg	Issuer expands regulated stablecoin footprint A new bank-distributed token launched in Asia.	Positive
2026-05-05	Reuters	Monthly attestation confirms full reserve backing Reserves were held in short-dated treasuries and cash.	Positive
2026-02-17	Financial Times	Stablecoin rules reshape issuer competition The firm was cited as a compliant issuer under new frameworks.	Neutral
2025-09-11	CoinDesk	Legacy token supply winds down A discontinued token continued its orderly redemption.	Neutral

Risk events

Incidents & enforcement

Date	Type	Amount	Description
2023-02-13	Enforcement	—	New York regulator directed the firm to cease issuing a third-party branded stablecoin; orderly wind-down completed.
2021-05-04	Fine	USD 500,000	Civil penalty relating to historic reporting deficiencies.

Profile

Key facts

Founded2012

Websitepaxos.com

Fiat currenciesUSD, SGD

Proof of reservesYes

Custody modelBankruptcy-remote trust custody, monthly attestation

Legal entitiesPaxos Trust Company, LLC (US) · Paxos Digital Singapore Pte Ltd (SG) · Paxos Issuance MEA Ltd (AE)

Paxos

AuthorizedNot in scopeESMA register

Paxos Trust Company, LLC

Custodian🇺🇸 United States Founded 2012paxos.com

Visit website

Last reviewed

2026-08-11

Compliance snapshot

NYDFS limited-purpose trust charter — qualified custodian
MAS-regulated stablecoin issuance in Singapore; ADGM entity in Abu Dhabi
No retail Trustpilot presence — institutional counterparty
Monthly third-party reserve attestations published

Overall concern

Low concern

New York trust company and regulated stablecoin issuer with monthly reserve attestations and an institutional-only client base.

Regulatory

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
🇺🇸 United States (NY)	New York State Department of Financial ServicesNYDFS	Limited-purpose trust charter	Authorized	NY-TC-2015-0004	2015-09-10
🇸🇬 Singapore	Monetary Authority of SingaporeMAS	Major Payment Institution licence (stablecoin issuance)	Authorized	PS20230067	2023-07-19
🇦🇪 Abu Dhabi	Financial Services Regulatory AuthorityFSRA	Financial services permission (virtual assets)	Authorized	FSRA-2024-0031	2024-01-30

🇺🇸 United States (NY)
Authorized
Limited-purpose trust charter
New York State Department of Financial ServicesNYDFS
NY-TC-2015-00042015-09-10
Verify at source
🇸🇬 Singapore
Authorized
Major Payment Institution licence (stablecoin issuance)
Monetary Authority of SingaporeMAS
PS202300672023-07-19
Verify at source
🇦🇪 Abu Dhabi
Authorized
Financial services permission (virtual assets)
Financial Services Regulatory AuthorityFSRA
FSRA-2024-00312024-01-30
Verify at source

User signals

Reputation

Trustpilot-style score

3.5/ 5

3.5

210 reviews

Stable (12m)

App ratings

App Store: n/a
Google Play: n/a

Press sentiment (12m)

Positive5

Neutral4

Negative1

Media

Recent press

2026-07-14
Issuer expands regulated stablecoin footprintPositive
Bloomberg — A new bank-distributed token launched in Asia.
2026-05-05
Monthly attestation confirms full reserve backingPositive
Reuters — Reserves were held in short-dated treasuries and cash.
2026-02-17
Stablecoin rules reshape issuer competitionNeutral
Financial Times — The firm was cited as a compliant issuer under new frameworks.
2025-09-11
Legacy token supply winds downNeutral
CoinDesk — A discontinued token continued its orderly redemption.

History

Incidents & enforcement

2023-02-13Enforcement
New York regulator directed the firm to cease issuing a third-party branded stablecoin; orderly wind-down completed.
2021-05-04FineUSD 500,000
Civil penalty relating to historic reporting deficiencies.