PAX Markets YC Application
PAX Markets went through Y Combinator in the Winter 2025 batch as a Fintech company. Below: what the company does, who founded it, and its application to YC, reconstructed question by question in the real YC form.
- YC batch
- Winter 2025
- Industry
- FintechBanking and Exchange
- Team size
- 6
- Status
- Active
- Launched
- 2025
Founders
Pete StevensonFounder / CEO
Benjamin KilimnikFounder
What PAX Markets does
PAX is a new crypto CEX that delivers more 𝛼 with its in-silicon exchange and HFT technology. The PAX exchange integrated on-chip λ API provides deterministic nanosecond tick-to-trade latency. HFT λ traders experience non-adverse counterparty selection by pairing with free-tier traders who access PAX using our zero-cost & always rebated legacy API. Using our patented technology, PAX is building a new generation of exchange co-lo facilities that unite HFT with exchange and monetizing by vertically integrating exchange and platform technology as one.
PAX Markets's YC application, reconstructed
Y Combinator application
PAX Markets, Winter 2025 batch. The real form questions, answered from public data.
- Founders2
- Company7
- Progress7
- Idea4
- Equity3
- Curious2
- Batch Preference1
Company
PAX Markets
More 𝛼, less latency: exchange and HFT on one chip.
We're building a crypto centralized exchange with an in-silicon exchange and HFT technology that delivers nanosecond tick-to-trade latency. Our platform pairs high-frequency traders with free-tier traders on zero-cost, always-rebated legacy APIs. The chip-level λ API enables deterministic latency and non-adverse counterparty matching, creating a new generation of exchange co-location and HFT environments all in one system.
We live in Redwood City, California, and the company will remain based there after YC.
We're based in Redwood City because that's where our team is located and where we can best build and test hardware-integrated fintech solutions within Silicon Valley's ecosystem.
21 more answers in the full application
Founders, Progress, Idea, Equity, Curious, Batch Preference are in the full version. Create a free account to open it in YC Insights, next to every other YC batch.
Frequently Asked Questions
Is this the real PAX Markets YC application?
No. Y Combinator keeps submitted applications private. This is a reconstruction: the real YC form questions, answered from PAX Markets's public data (launch notes, founder backgrounds, product description). It shows how a company like PAX Markets would present itself to YC, not the text they submitted.
What YC batch was PAX Markets in?
PAX Markets was part of the Y Combinator Winter 2025 batch.
Who founded PAX Markets?
PAX Markets was founded by Pete Stevenson, Benjamin Kilimnik.
What does PAX Markets do?
More 𝛼, less latency: exchange and HFT on one chip.
How do I read the full reconstructed application?
Create a free Round Funded account. The full 26-answer version of PAX Markets's application, and every other YC batch, is in YC Insights.
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