Ronak Daya on Stablecoin Infrastructure at Benzinga 2025

Ronak Daya, Head of Product at Paxos, is speaking at the Benzinga Fintech Awards on November 10, 2025 in New York City. With over 10 years of product leadership experience and a background at Coinbase, Daya brings deep expertise in blockchain technology and stablecoin infrastructure.

Paxos operates critical infrastructure powering crypto trading and custody for major retail platforms including PayPal, Venmo, and Interactive Brokers. The company's recent launch of Global Dollar (USDG) and partnership with Stripe position it at the center of stablecoin adoption for mainstream finance.

Ronak Daya's Background and Expertise

Before joining Paxos, Daya spent several years at Coinbase during its growth from startup to public company. This experience provided deep insights into building crypto products for retail users at scale.

With over a decade in product management, Daya has led teams through multiple product cycles and market conditions. His expertise spans user experience design, regulatory compliance, and technical architecture for financial products.

Paxos Powers Major Retail Platforms

The most significant aspect of Paxos's business is providing crypto infrastructure for mainstream financial applications. When users buy Bitcoin on PayPal or trade crypto on Interactive Brokers, Paxos handles the custody and settlement behind the scenes.

PayPal's crypto offering, launched in 2020 and expanded to Venmo, relies on Paxos infrastructure. Millions of PayPal users can buy, sell, and hold cryptocurrencies directly in their PayPal wallets through this integration.

Stablecoin Technology Explained

Stablecoins solve a fundamental problem in crypto markets by providing price-stable digital assets pegged to fiat currencies. This stability enables their use as trading pairs, settlement vehicles, and value storage.

Paxos maintains one-to-one reserves backing its stablecoins, meaning each USDG and USDP token is backed by equivalent US dollar value. These reserves consist of cash deposits and short-term Treasury securities held in segregated accounts.

Retail Trading Platform Implications

The infrastructure Paxos provides affects how retail trading platforms can offer crypto services. Platforms like Interactive Brokers rely on this infrastructure to expand their product offerings.

Brokers integrating Paxos infrastructure gain crypto capabilities without building proprietary blockchain technology. This integration pattern mirrors how brokers use clearing firms for traditional securities rather than operating their own clearing operations.

Future Developments in Stablecoin Infrastructure

Ronak Daya's product leadership at Paxos positions him to drive future stablecoin innovations. Several developments could significantly impact retail trading.

Stablecoins show promise for efficient cross-border transfers, potentially disrupting traditional remittance and international payment services. Paxos infrastructure could enable instant international settlements at low cost.

Attendees of the Benzinga Fintech Awards on November 10, 2025 in New York City will gain insights from this presentation on current fintech trends and innovations shaping the trading and investment landscape.