Charles Cascarilla, Co-founder and CEO of Paxos

Charles Cascarilla, Co-founder and CEO of Paxos

Co-founder and CEO of Paxos, a regulated blockchain technology company that enables businesses to exchange, hold, and tokenize assets in the cryptocurrency market, is Charles Cascarilla. The company's selection of software solutions helps with this. Cascarilla holds a Bachelor of Business Administration from the University of Notre Dame and is a qualified financial analyst.
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Cascarilla began working in the financial sector in 1999 as an analyst for Bank of America. In 2000, he spent a brief time working as a financial analyst for Goldman Sachs. Since then, he has also collaborated with a number of other illustrious organizations, such as the Association for Digital Asset Markets, Liberty City Ventures, Claiborne Capital Management, and Cedar Hill Capital Partners.


Due to “multiple outstanding concerns regarding Paxos’ supervision of its association with Binance,” the Department of Financial Services (DFS) ordered Paxos to stop minting BUSD in February 2023. The notification came after the SEC found that Paxos had broken securities laws during its inquiry into the company’s connection with Binance, whose stablecoin it had issued. Cascarilla retorted that BUSD did not satisfy the requirements to be regarded as a security.


Paxos, led by Cascarilla, has made some significant strides in 2022, including the selection of Ben Gray as global general counsel. Gray formerly worked for Jack Dorsey’s Block for six years. Paxos has improved the range of products it offers. The business said on February 3 that it would be adding support for a few well-known cryptocurrencies, including AAVE, LINK, UNI, and MATIC.

In the past, Cascarilla has been outspoken against the development and spread of stablecoins. He has fought for their regulation and the creation of a digital currency issued by the US central bank that is comparable to the digital yuan used by China. He is anticipated to continue this campaign in 2022, and Paxos is likely to close more partnerships as it broadens the services it offers related to blockchain technology.

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