Blockchain infrastructure provider Paxos has reached approximately $6.6 billion in total issued digital assets across its regulated stablecoin and tokenization platform.
The milestone comes as institutional demand accelerates for compliant, dollar-backed cryptocurrencies amid tightening global stablecoin regulations.
PayPal USD (PYUSD) dominates with a $3.87 billion market cap, while Global Dollar (USDG) crossed $1 billion in early December.
What Happened
PYUSD accounts for the majority of Paxos-issued assets with approximately $3.87 billion in circulation across Ethereum and Solana networks.
The stablecoin expanded significantly throughout 2025 as PayPal integrated it deeper into its 435 million user ecosystem.
USDG surpassed $1 billion market cap December 4, 2025, growing through its Global Dollar Network partnership model.
The network now includes over 100 partners including Kraken, Robinhood, OKX, and Galaxy Digital.
Pax Gold (PAXG), the tokenized commodity offering, reached approximately $1.47 billion market cap as institutional investors increased exposure to blockchain-based gold.
Pax Dollar (USDP) contributes roughly $52 million to the total.
Paxos received federal banking approval December 12, 2025, when the Office of the Comptroller of the Currency approved its conversion to a national trust charter.
The company also acquired custody provider Fordefi for over $100 million in November, expanding its institutional infrastructure.
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Why It Matters
The $6.6 billion milestone positions Paxos among the largest regulated stablecoin issuers globally.
Federal oversight through the OCC provides regulatory clarity that institutional clients increasingly demand.
Multi-chain deployment across Ethereum, Solana, Stellar, and Arbitrum demonstrates broad-based adoption beyond single-ecosystem dependency.
USDG's reward-sharing economic model attracted major exchanges and payment platforms seeking compliant dollar alternatives.
Paxos-issued stablecoins benefit from monthly independent attestations and full reserve backing, differentiating them from offshore competitors facing regulatory scrutiny.
The combination of institutional-grade custody, federal regulation, and multi-chain infrastructure positions the platform for continued growth as traditional finance entities enter cryptocurrency markets.
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