Paxos

Paxos Trust Company began in 2012 as a Bitcoin exchange called itBit. It was cofounded by Rich Teo and current CEO Charles Cascarilla. The New York-based company's technology underpins stablecoins issued by numerous other firms, including the Global Dollar (USDG) and PayPal's PYUSD. It previously issued Binance's BUSD stablecoin, until New York regulators ordered the company to stop supporting the exchange's token in 2023. 

Paxos has been influential in Washington, D.C., where it is a major player in crypto policy and helped to successfully lobby for landmark stablecoin legislation known as the Genius Act. The company also counts Interactive Brokers, Mastercard, and Charles Schwab as clients.