Paxos Adds J. Christopher Giancarlo to Board of Directors

News provided by

May 14, 2024, 09:00 ET

Giancarlo Brings Decades of Expertise, Including as Former Commodity Futures Trading Commission Chair

NEW YORK, May 14, 2024 /PRNewswire/ -- Paxos, the leading regulated blockchain and tokenization infrastructure platform, today announced it has added J. Christopher Giancarlo, former Chairman of the United States Commodity Futures Trading Commission (CFTC), to its board of directors.

A well-respected figure in the financial services industry, and a passionate blockchain technology advocate, Giancarlo brings invaluable expertise and knowledge to Paxos as it continues to lead in digital asset innovation.

Charles Cascarilla, CEO and Co-Founder of Paxos, said: "Chris brings unparalleled expertise and understanding of complex market dynamics to Paxos. He has been at the forefront of advocating for blockchain to improve the infrastructure of our financial system. His insights will support us as we expand our position as a leader in regulated digital asset market structure and stablecoin innovation. We appreciate his guidance as we grow our global regulatory footprint and facilitate the safe adoption of digital assets and blockchain."

J. Christopher Giancarlo, incoming Paxos Board Member, said: "Paxos has established itself as the leader in bridging traditional and digital asset markets by introducing regulated solutions that are safe for institutions and consumers. I'm honored to join Paxos's board and be a part of innovation in the financial sector. Paxos's commitment to compliance and dedication to building a more efficient and inclusive financial system resonate deeply with me. I look forward to leveraging my expertise to help guide Paxos as it continues to revolutionize traditional finance."

Paxos is a registered trust company and issuer of regulated digital assets PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). By leveraging blockchain technology, Paxos aims to open the financial system to everyone, creating more access and freedom for billions of people around the world. As Paxos continues to lead the way in digital asset innovation, the company remains committed to its mission of building a more inclusive and accessible financial future.

About J. Christopher Giancarlo

J. Christopher "Chris" Giancarlo served as the thirteenth Chairman of the U.S. Commodity Futures Trading Commission (CFTC), where he oversaw regulation of the futures, options and swaps derivatives markets. Considered one of "the most influential individuals in financial regulation," he also was a member of the U.S. Financial Stability Oversight Committee, the President's Working Group on Financial Markets, and the Executive Board of the International Organization of Securities Commissions. Before his Washington D.C. service, Giancarlo was a successful entrepreneur helping GFI Group Inc. grow into a leading trading platform and technology vendor to global markets for OTC swaps and other derivatives and managing GFI's successful private equity financing and IPO.

Giancarlo is a renowned blockchain technology advocate and key contributor to the global discourse on cryptocurrencies and digital assets. He is the author of "CryptoDad – The Fight for the Future of Money," an account of his oversight of the world's first regulated market for Bitcoinderivatives and the coming digital network transformation of financial services. During his tenure at the CFTC (2014-2019), Chris oversaw the first bitcoin futures products entering the marketplace and applied a "Do No Harm" regulatory approach towards blockchain technology.

Giancarlo is Senior Counsel to the international law firm, Willkie Farr & Gallagher, co-founder and Executive Chairman of the Digital Dollar Project (https://digitaldollarproject.org), and also board director, advisor and angel investor in numerous public and private technology and financial services companies. He has testified often about financial and derivatives markets before the U.S. Congress and EU Parliament and is a frequent guest on broadcast radio and television, including BloombergTV, CNBC, Fox Business and the BBC, as well as podcasts such as "Unchained" and "CoinDesk." Giancarlo has written and spoken extensively on public policy, legal and other matters involving technology and the financial markets and has authored numerous white papers, articles and op-eds that have been published in The Wall Street Journal, Financial Times, Cato Journal, New York Law Journal, Les Echos and Coinbase.

Giancarlo has more than 50,000 followers on Twitter as @giancarloMKTS where he is known as "CryptoDad." The American Crypto Association featured him among the top 10 crypto lawyers on its 2020 ranking of "The Top 25 Crypto Lawyers" in the nation.

In March 2022, Giancarlo was appointed to the rank of Chevalier in the French National Order of Merit by a Presidential decree of President Macron. According to French Ambassador Phillipe Etienne, the award recognizes his expertise in "financial markets and the potentials of cryptofinance."

About Paxos

Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.

Paxos partners with leading global enterprises to tokenize, custody, trade and settle assets. Its blockchain solutions are used by institutions like PayPal, Interactive Brokers, Mastercard, Mercado Libre, Nubank, Bank of America and Societe Generale. It is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). Prudentially regulated by the NYDFS in the US and the MAS in Singapore, Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system.

Contact: [email protected]

SOURCE Paxos