Bolsa Cripto Announces a Landmark, Brazil’s first PAX Standard Listing, PAX Gold Coming Soon

John Willock
Dec 17, 2019 · 3 min read

We are thrilled to announce Bolsa Cripto is the first digital asset platform in Brazil offering Paxos’ PAX tokenized US dollar!

Bolsa Cripto is introducing the Paxos Standard, PAX, as the tokenized US dollar offered on its digital asset exchange, launched in partnership with Tritum Advisory on the XT Exchange platform. Bolsa Cripto is a Brazil-focused exchange offering digital asset trading including against fiat Real pairings, crypto to crypto pairs, and crypto to stablecoin pairs.

US dollar-denominated trading pairs are the most liquid in all digital asset trading markets, and an anchor product for any exchange. However, not all dollars are created equally, and a huge amount of market risk exists around certain tokenized dollar products for which the association of the token to any actual dollars backing it is ambiguous, or unclear.

In selecting our traded pairs for Bolsa Cripto, we focused heavily on the quality of the issuer, backing asset transparency and redeemability, and ultimately its pre-existing liquidity in the ecosystem. In the end we found PAX to be the best suited to our needs as a product, and a fantastic partner to bring the best possible experience to Brazil.

PAX’s backing dollars are managed by Paxos, which is extremely solidly regulated as a trust company organized in the US under New York State banking law and regulated by the New York State Department of Financial Services. Their white paper sums up the significance this eloquently:

Paxos operates under governing principles of the highest standard. Unlike a bank, which uses client funds for its own benefit and funding, a trust company acts as a fiduciary that custodies customer deposits and therefore will always keep customer funds completely segregated. All dollar deposits are held in FDIC-insured U.S. banks or collateralized by U.S. government treasuries, and customer dollars are all accounted for as customer property.

Therefore, we believe Bolsa Cripto clients can have the maximum degree of comfort that their tokenized dollar holdings truly are a 1:1 digital representation, and as such are also very likely to be broadly accepted by other parties.

Furthermore, PAX is also very broadly adopted across exchanges and other digital asset service providers. In fact, Paxos themselves claim to be the most liquid regulated stablecoin in the world! As such, clients of Bolsa Cripto can enjoy maximum utility of their digital dollars to transact, transport, or store value in digital forms conveniently with an array of products.

Most importantly, when it comes to the real test of any asset-backed digital token, redeemability, Paxos is also leagues ahead of their competition. To date, they have redeemed $1.3 billion in tokens back to fiat currency. They also make the process extremely straightforward for individuals or corporations to do so with as little as 100 PAX in an easy to use service..

By every measure we deemed critical to offering our clients a superior experience, as well as aligning with our own pillars of trust, transparency, and quality, Paxos. We look forward to welcoming Brazilians to come and try out tokenized US dollars via PAX to on Bolsa Cripto!

Soon, in addition to the PAX dollar, Bolsa Cripto will also be announcing the listing date for the recently launched PAX Gold (PAXG) product. An exciting innovation in tokenized real world assets, each issued PAXG token, is backed by one troy ounce of a 400 oz. London Good Delivery bar stored in Brinks safes, and is fully redeemable, just like the PAX dollar. We look forward to bringing to Brazilians the simplest way to acquire exposure to this classic investment asset soon via Bolsa Cripto. Stay tuned to our social media for further updates.

bolsacripto

A maneira mais inteligente de vender e comprar Bitcoins e outras criptomoedas.

John Willock

Written by

CEO, Tritum. Pursuing innovation in financial services with trustless, frictionless technology.

bolsacripto

A maneira mais inteligente de vender e comprar Bitcoins e outras criptomoedas.

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