Paxos, a blockchain infrastructure platform regulated under the aegis of New York State Department of Financial Services (NYDFS), is on the search for a 'Head of Portfolio Management' to manage a $20 billion stablecoin portfolio. This individual is expected to take over the allocation decisions, implement strategies, processes and controls that meet the goals and expectations of Paxos and its clients while fulfilling the legal restrictions provided by NYDFS.

In order to be considered, applicants must possess a Bachelor's Degree in finance, economics, accounting, statistics, business administration, mathematics or a related field and at least 15 years of trading experience. In addition, knowledge of trading for short-term interest rate capital instruments, Treasury bills and overnight repos are considered as favorable skills. As of today, the total applicant count is over 200 as of per LinkedIn.

Paxos is acclaimed for its Pax Dollar (USDP) and Pax Gold (PGold), both backed by physical gold.Whilst USDP is still in circulation, Paxos had to discontinue their Binance USD last February after being under pressure from the NYDFS. Nevertheless, customers of the Binance USD were allowed to redeem it for USD or swap it for USDP. Recently, the company received a Wells Notice from the United States Securities and Exchange Commission (SEC) which declared the security as an investment contract, a claim which was put to dispute by Paxos as they are prepared to dispute the regulations if necessary.

Austin Campbell, an adjunct professor at Columbia Business School and writer, held the said role of 'Head of Portfolio Management' at Paxos for ten months, a detail which can be found in his LinkedIn profile. He, however, did not respond to any questions put forth by The Block.



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