{
  "schema_version": "1.0",
  "slug": "fintech/paxos-paxg-post-binance-pivot",
  "source_path": "fintech/paxos-paxg-post-binance-pivot.md",
  "url": "https://finwiki.zksc.io/ja/fintech/paxos-paxg-post-binance-pivot/",
  "html_url": "https://finwiki.zksc.io/ja/fintech/paxos-paxg-post-binance-pivot/",
  "alternate_html_urls": {
    "ja": "https://finwiki.zksc.io/ja/fintech/paxos-paxg-post-binance-pivot/",
    "en": "https://finwiki.zksc.io/en/fintech/paxos-paxg-post-binance-pivot/"
  },
  "github_url": "https://github.com/jasonhnd/finwiki/blob/main/fintech/paxos-paxg-post-binance-pivot.md",
  "raw_markdown_url": "https://finwiki.zksc.io/fintech/paxos-paxg-post-binance-pivot.md",
  "domain": "fintech",
  "title": "Paxos after BUSD — PYUSD / USDG / USDP / PAXG and the USDL wind-down",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Paxos after BUSD — PYUSD / USDG / USDP / PAXG and the USDL wind-down",
    "aliases": [
      "paxos-paxg-post-binance-pivot",
      "Paxos post BUSD",
      "PAXG overview",
      "Paxos product portfolio"
    ],
    "domain": "fintech",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-30",
    "last_tended": "2026-07-30",
    "review_by": "2026-11-25",
    "confidence": "likely",
    "tags": [
      "fintech",
      "paxos",
      "busd",
      "pyusd",
      "usdg",
      "usdp",
      "paxg",
      "usdl",
      "stablecoin",
      "tokenized-gold"
    ],
    "status": "active",
    "canonical_anchor": null,
    "related": [],
    "note": null,
    "sources": [
      "https://www.dfs.ny.gov/consumers/alerts/Paxos_and_Binance",
      "https://apps.occ.gov/CAS/home/details?FilingID=342828&FilingSubtypeID=1117&FilingTypeID=23",
      "https://www.paxos.com/pyusd",
      "https://docs.paxos.com/guides/stablecoin/pyusd",
      "https://docs.paxos.com/guides/stablecoin/usdg",
      "https://www.paxos.com/usdp",
      "https://www.paxos.com/pax-gold",
      "https://docs.paxos.com/guides/stablecoin/paxg",
      "https://www.paxos.com/terms-and-conditions/pax-gold-terms-conditions",
      "https://www.paxos.com/terms-and-conditions/stablecoin-terms-conditions",
      "https://www.paxos.com/terms-and-conditions/glba-privacy-notice",
      "https://www.paxos.com/paxg-transparency",
      "https://www.paxos.com/newsroom/winding-down-usdl-lift-dollar",
      "https://www.paxos.com/stablecoin-issuance"
    ]
  },
  "summary": "New York DFS ordered Paxos to cease minting Paxos-issued BUSD in February 2023 because of unresolved oversight issues in the Binance relationship. The OCC approved and made effective the conversion to Paxos Trust Company, N.A. on 2025-12-12. Current PYUSD and PAXG product / terms materials identify",
  "headings": [
    "Paxos after BUSD — PYUSD / USDG / USDP / PAXG and the USDL wind-down",
    "TL;DR",
    "Wiki route",
    "BUSD event boundary",
    "Current / historical product matrix",
    "Federal conversion and document-specific entity boundary",
    "PAXG: what is verified",
    "USDG and Global Dollar Network",
    "USDL correction",
    "Multi-jurisdiction comparison guardrails"
  ],
  "body_links": {
    "wikilinks_count": 6,
    "wikilinks": [
      "fintech/INDEX",
      "fintech/global-stablecoin-regulatory-five-pole-matrix",
      "fintech/issuer-distributor-incentive-realignment-50-50-model",
      "fintech/paypal-pyusd-stablecoin",
      "fintech/stablecoin-issuer-2025-2026-market-consolidation",
      "fintech/tokenized-mmf-wisdomtree-hashnote"
    ],
    "resolved_wikilinks": [
      "https://finwiki.zksc.io/ja/domains/fintech/",
      "https://finwiki.zksc.io/ja/fintech/global-stablecoin-regulatory-five-pole-matrix/",
      "https://finwiki.zksc.io/ja/fintech/issuer-distributor-incentive-realignment-50-50-model/",
      "https://finwiki.zksc.io/ja/fintech/paypal-pyusd-stablecoin/",
      "https://finwiki.zksc.io/ja/fintech/stablecoin-issuer-2025-2026-market-consolidation/",
      "https://finwiki.zksc.io/ja/fintech/tokenized-mmf-wisdomtree-hashnote/"
    ],
    "external_links_count": 14,
    "external_links": [
      "https://apps.occ.gov/CAS/home/details?FilingID=342828&FilingSubtypeID=1117&FilingTypeID=23",
      "https://docs.paxos.com/guides/stablecoin/paxg",
      "https://docs.paxos.com/guides/stablecoin/usdg",
      "https://www.dfs.ny.gov/consumers/alerts/Paxos_and_Binance",
      "https://www.paxos.com/newsroom/paxos-introduces-global-dollar-usdg",
      "https://www.paxos.com/newsroom/winding-down-usdl-lift-dollar",
      "https://www.paxos.com/pax-gold",
      "https://www.paxos.com/paxg-transparency",
      "https://www.paxos.com/pyusd",
      "https://www.paxos.com/stablecoin-issuance",
      "https://www.paxos.com/terms-and-conditions/glba-privacy-notice",
      "https://www.paxos.com/terms-and-conditions/pax-gold-terms-conditions",
      "https://www.paxos.com/terms-and-conditions/stablecoin-terms-conditions",
      "https://www.paxos.com/usdp"
    ]
  },
  "metrics": {
    "nonspace_chars": 10641,
    "word_like_tokens": 1786,
    "inbound_wikilinks_count": 1,
    "last_modified": "2026-07-30"
  }
}