Paxos Issues Statement

NEW YORK – February 13, 2023 – Paxos, the leading regulated blockchain and tokenization infrastructure platform, received a Wells notice from the SEC on February 3, 2023. Paxos has issued the following statement:Paxos categorically disagrees with the SEC staff because BUSD is not a security under the federal securities laws. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system.