We’re excited to share that Binance, the world’s largest crypto exchange, has now added the Paxos Standard (PAX) stablecoin as a base currency. PAX is the first regulated stablecoin to be a base currency on Binance, giving traders a trusted alternative to Tether (USDT).
What is a base currency and why does it matter?
A base currency is the currency we use to price other currencies. In the US, we use dollars daily, and think about the price of foreign goods in terms of dollars. And since it’s so stable and universally traded, the dollar is a global standard.
We are excited to announce that the Paxos Standard token (PAX) is now a settlement option for BitPay merchants around the world. BitPay is the first and most experienced company in bitcoin payments and we’re thrilled they have chosen PAX to incorporate into their merchant-facing product. BitPay merchants and businesses now have the option to receive settlements in PAX, the digital equivalent to the US dollar.
With our partnership, Bitpay and Paxos are giving business owners the speed and accessibility of cryptocurrencies combined with the trust and stability of the US dollar. This new settlement option is particularly valuable for…
Today, we are excited to announce that the Paxos Standard token (PAX) has passed the $100 million mark since its launch one month ago. PAX are issued 1:1 to the US dollar when customers deposit funds, so this $100M milestone is a testament to the growing customer demand for PAX, a stablecoin you can trust.We’re also happy to share that you can now trade PAX on over 30 of the top global exchanges and OTC desks.
PAX has been listed on more than 17 exchanges, with more listing each week, including Binance, OKEx, KuCoin, ZB, OKCoin, Gate.io, DigiFinex, and Huobi.
We are excited to share that we have added several more windows for PAX conversions and fiat deposits/withdrawals! With more frequent processing times every weekday (and even some on the weekends), you can be sure that the transactions you initiate are fulfilled faster than ever.
You can access the full processing schedule here. (These transactions are not processed automatically because Paxos holds all crypto assets in cold wallets for maximum storage security.)
These changes will be in effect from tomorrow, October 27, 2018, until further notice.
If you have any questions or concerns, please do not hesitate to contact our customer support team at firstname.lastname@example.org.
Originally published at www.paxos.com on October 26, 2018.
We’re excited to share that Binance, the world’s largest crypto exchange, has today listed the Paxos Standard token (PAX) against tether (USDT). We think the pairing is a great option for people who want to convert their tether to an alternative that is regulated, audited and always redeemable 1:1 for the U.S. dollar.
First launched on September 10, Paxos Standard has quickly gained adoption around the world. By September 29, Binance listed PAX against BNB, and has quickly followed with additional pairings against BTC and today, USDT, based on customer demand. …
As we bring trust and transparency to the digital asset market with PAX, the industry’s first regulated stablecoin, we are pleased to share our first month-end attestation report, prepared and published by nationally-ranked auditing firm Withum. This and all future reports will be viewable at www.paxos.com/standard/attestations.
We are excited to share that Binance, currently the world’s largest crypto exchange by trading volume, has announced it will list our Paxos Standard token (ticker symbol PAX). The announcement of the listing of PAX on Binance signifies a growing and immediate demand for a regulated stablecoin.
Paxos issues and redeems PAX tokens one-to-one against U.S. dollars, giving holders a digital equivalent of the dollar that can be moved nearly instantly, 24/7. Stablecoins are attractive to active traders who can use it to cash out of digital assets more quickly than if they were to convert to dollars. By using…
This week, Paxos announced the launch of Paxos Standard™, the world’s first regulated crypto asset. The Paxos Standard token is fully collateralized 1:1 by the U.S. dollar, issued by the Paxos Trust Company, and approved and regulated by the New York State Department of Financial Services.
As a digital asset, Paxos Standard can move instantaneously anywhere in the world. Built on the Ethereum blockchain, it offers the benefits of crypto-assets such as immutability and decentralized accounting. Since it is fully collateralized by dollars, Paxos Standard offers a liquid, digital alternative to cash that is available 24/7 for instantaneous transaction settlement…