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Pax Dollar

News

All the latest news about Pax Dollar

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Paxos International Introduces Yield-bearing Stablecoin Lift Dollar (USDL)

Paxos International, a UAE-based entity of Paxos, has launched its yield-bearing stablecoin called Lift dollar (USDL), with the product initially available to the Argentinian market.

 Hassan Maishera

Bitcoin Payment Provider BitPay Launches Bill Pay

This solution enables cryptocurrency users to directly pay their bills from their crypto wallets

 Nikolas Sargeant

Binance to Auto-Convert USDC, Two Others, To BUSD

Binance, the world's leading crypto exchange, has revealed that it would be auto-converting USDC and two other stablecoins to BUSD in a bid to increase liquidity.

 Hassan Maishera

Trade

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Binance

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4.1 based on 2384 votes

Phemex

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4.02 based on 970 votes

SimpleSwap

N/A
3.92 based on 322 votes

Spend

Want to leave your cash at home? These cards support Pax Dollar.

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Coinbase Card

3.07 based on 206 votes

Shop

So you've made a little Pax Dollar and now you want to spend it? These are the places to do it!

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VPS2DAY.com

4.23 based on 13 votes

Hodl

Find the wallet that suit your security, ease of use and anonymity needs for Pax Dollar.

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YouHodler

3.91 based on 45 votes

SimpleHold Wallet

4.19 based on 16 votes

Review

Learn more about Pax Dollar.

On September 10, 2018, a New York-based blockchain company called Paxos announced their release of a stablecoin called Paxos Standard (PAX). Similar to Tether, a fully USD-collateralized cryptocurrency. Paxos on the other hand has been regulated and approved by New York State Department of Financial Services.

Paxos Standard (PAX) changed its name to Pax Dollar (USDP) on 24 August 2021. This name change will come to effect on 31 August 2021.

Gemini Dollar, a similar USD-tethered cryptocurrency, backed by the Winklevoss twins, came out on the market during the same period. The Winklevoss twins, as you may know have bigger hype than Paxos. So, the release of Paxos became somewhat overshadowed by this fact. However, Pax Dollar has still become one of the fastest adopted cryptocurrencies out there. Within the first five weeks of existence, the stablecoin was supported by over 20 exchanges and OTC desks.

Paxos’s platform combines distributed ledger technology with the regulated trust status it has, to minimize settlement risks. Basically, they operate on the formula: Regulated Trust + Blockchain Technology = Modern Settlement Platform.

The principle behind creating this platform has many benefits to it, and the rationale can easily be explained. The simple fact of being a regulated trust, makes Paxos legally eligible to transfer assets and currencies. Combining that permission with blockchain technology, speeds up transactions immensely, while at the same time enjoying the stability and security that blockchains offer. The risk therefore becomes minimized. Thus, businesses and financial solutions will become much more scalable and safe.