- J. Christopher Giancarlo, former chair of the CFTC, has joined the board of directors at Paxos, a prominent crypto firm.
- His addition is part of Paxos’s strategy to expand in regulated crypto markets and advance stablecoin innovation.
- Giancarlo’s expertise and commitment to compliance align with Paxos’s vision for revolutionizing traditional finance.
- Previously, Giancarlo served as a CFTC commissioner and was known for advocating blockchain technology to enhance financial infrastructure.
Chris Giancarlo Joins Paxos Board
Former chair of the United States Commodity Futures Trading Commission (CFTC), J. Christopher Giancarlo, commonly referred to as ‘Crypto Dad,’ has taken on a new role as a member of the board of directors for crypto firm Paxos.
Paxos, in its announcement on May 14, revealed the addition of Giancarlo to its board, marking a strategic move to bolster its presence in regulated crypto markets and drive innovation in the stablecoin sector. Notably, Paxos is the driving force behind the U.S. dollar-pegged Pax Dollar (USDP) and the stablecoin issued for PayPal, known as PYUSD.
Expressing his enthusiasm for joining Paxos, Giancarlo emphasized the company’s dedication to compliance and its mission to reshape the financial landscape. He stated, “Paxos’s commitment to compliance and dedication to building a more efficient and inclusive financial system resonate deeply with me,” underscoring his readiness to contribute his expertise to Paxos’s journey of revolutionizing traditional finance.
Giancarlo’s tenure at the CFTC spans from 2013 to 2019, during which he served as both commissioner and chair. He is renowned for his pivotal role in advocating for blockchain technology to enhance the infrastructure of the financial system. Additionally, Giancarlo is the founder of the Digital Dollar Project, an initiative aimed at introducing a U.S. central bank digital currency. Currently, he serves as an advisory board member for the Chamber of Digital Commerce, further solidifying his standing as a prominent figure in the intersection of technology and finance.
Charles Cascarilla, co-founder and CEO of Paxos, lauded Giancarlo’s contributions, highlighting his proactive stance in championing blockchain adoption in finance. Cascarilla affirmed, “He has been at the forefront of advocating for blockchain to improve the infrastructure of our financial system,” acknowledging Giancarlo’s invaluable insights that are poised to guide Paxos’s strategic direction.