Paxos Trust Company, originally founded in 2012 as itBit and rebranded in 2015, is a New York–based fintech and blockchain entity. It operates under a limited-purpose trust charter from the New York Department of Financial Services and offers services including crypto brokerage, asset tokenization, stablecoin issuance (e.g., Pax Dollar/USDP and PAX Gold/PAXG), post-trade automation, and blockchain-based securities settlement. ItBit, its exchange platform, was the first NYS-licensed Bitcoin exchange.