Charles Cascarilla
Charles Cascarilla is co-founder and chief executive officer of the American blockchain infrastructure company PaxosPaxosPaxos is a blockchain-infrastructure company founded in 2012 and led by CEO Charles Cascarilla. It provides enterprises with digital-asset custody, trading, settlement and stablecoin-issuance technology. Its associated assets include PYUSD, USDP, PAXG and USDG, with issuer entities and regulatory oversight varying by asset.Open the full entry. He began his career as an analyst at Goldman SachsGoldman SachsGoldman Sachs is an American financial services group headquartered in New York whose businesses include investment banking, securities trading, asset management, and wealth management. It traces its origins to the commercial paper business Marcus Goldman founded in 1869; it listed on the New York Stock Exchange in 1999 under the ticker GS and became a bank holding company in 2008. David Solomon serves as chairman and chief executive officer.Open the full entry and Bank of AmericaBank of AmericaBank of America Corporation is a bank holding company headquartered in Charlotte, North Carolina, with four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets.Open the full entry Securities, co-founded the asset manager Cedar Hill Capital Partners in 2005 and co-founded Paxos in 2012, and he has testified on digital assets before committees of the U.S. Senate and House of Representatives.
Contents5 sections
Key facts
Early Career in Finance
A University of Notre Dame finance graduate, he worked as an analyst at Goldman Sachs and Bank of America Securities, co-founded the asset manager Cedar Hill Capital Partners in 2005 and co-founded Paxos in 2012.[1]
June 2020Senate Banking Committee Hearing
On June 30, 2020, as chief executive of Paxos, he testified at a remote hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs titled “The Digitization of Money and Payments,” alongside former Commodity Futures Trading CommissionCommodity Futures Trading CommissionThe U.S. Commodity Futures Trading Commission (CFTC) is an independent federal agency created by the Commodity Futures Trading Commission Act of 1974 and operating since 1975 to regulate futures, options and swaps markets; it has treated bitcoin and other virtual currencies as commodities since 2015 and has been chaired since December 22, 2025 by Michael Selig.Open the full entry chairman J. Christopher Giancarlo.[2]
December 2021House Financial Services Committee Testimony
On December 8, 2021, he appeared at a U.S. House Financial Services Committee hearing on digital assets. His written testimony said regulation “should establish a level playing field and safeguard consumers” while encouraging innovation, and argued that blockchain could enable same-day securities settlement.[3]
December 2025Paxos Moves to Federal Trust Supervision
On December 12, 2025, Paxos announced approval from the Office of the Comptroller of the CurrencyOffice of the Comptroller of the CurrencyThe Office of the Comptroller of the Currency is an independent U.S. Treasury bureau that supervises national banks and other institutions.Open the full entry to convert its New York limited-purpose trust charter into a national trust charter. Cascarilla said Paxos “is now entering a new phase of regulatory supervision.”[4]
Sources
- Paxos Newsroom — Charles Cascarilla (opens in a new window)
- The Digitization of Money and Payments (opens in a new window)
- Testimony of Charles Cascarilla, CEO and Co-Founder of Paxos (opens in a new window)
- OCC Approves Paxos Application to Convert to OCC Trust; Paxos to Complete Conversion Imminently to Become a Federally Regulated Blockchain Infrastructure Provider (opens in a new window)