ItBit Rebrands as Paxos Amid Blockchain Pivot
Blockchain startup itBit has taken steps to reorganize its corporate assets. Announced yesterday, itBit officially rebranded as Paxos, migrating its blockchain projects to a new entity under which itBit will now sit as a separate division. The move confirms past indications that its leadership was seeking to rebrand to better highlight its private blockchain and distributed ledger work. According to the company, "Paxos" will now house itBit's distributed ledger efforts, thereby separating this division from its bitcoin exchange and over-the-counter trading services. The rebrand....
Related News
Paxos, a Blockchain company formerly known as ItBit, announced its strategic partnership with Euroclear to deploy a Blockchain settlement service for gold markets. London Bullion Market integration. Euroclear, the world’s largest Belgium-based asset and securities settlement cooperative founded by J.P Morgan & Co., attended the SIBOS Annual Conference in Geneva, Switzerland with Paxos to announce their joint project and explain the importance of a secure and efficient infrastructure in unsystematic gold markets. The Paxos-Euroclear gold market-focused Blockchain settlement solution....
Antony Lewis, the former director for business development at bitcoin exchange Paxos, has now joined private banking blockchain consortium led by New York-based R3. A former executive who oversaw business development with a focus in Asian markets for bitcoin exchange Paxos (itBit at the time of tenure) has joined R3. Antony Lewis revealed his new position at R3 as the Director of the firm’s Lab & Research Centre in Singapore. Lewis was formerly the director for business development in Asia at Singaporean bitcoin exchange itBit that recently rebranded itself under the Paxos brand. A....
A series of recent departures at itBit have left the company looking much different than it did just a few months ago. Following the release of itBit's enterprise clearing and settlement network Bankchain last year, three directors (and at least three other employees) have gone on to other endeavors. The exits appear to come amid a larger company transformation from bitcoin-only exchange to enterprise blockchain service provider. Multiple former employees have confirmed with CoinDesk that at least seven itBit employees have transitioned to other companies in that time. Only six have....
Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other stablecoins, stating their products we’re not really stablecoins. Paxos Reveals Stablecoin Backing Basket Paxos, a blockchain-regulated company, revealed the basket of assets backing their issued stablecoin on Wednesday. The company, which issues Paxos Standard and Binance USD, two....
Former itBit client group director Antony Lewis has officially joined banking consortium R3. Announced today, the move will find Lewis taking the reins as director of the startup's lab and research center in Singapore. Lewis left itBit (now Paxos) in mid-2015 and has since served in consulting roles focused on blockchain, including a stint with 'Big Four' accounting firm Ernst & Young. Notably, the move comes amid a larger bid by R3 to bolster its presence in Asia amid an uptick in interest from enterprise firms. In recent months, R3 has seen Asia-based firms including Ping An and life....