Major cryptocurrency exchange Binance has added Paxos Standard (PAX) as a base currency on its platform, meaning the stablecoin can be coupled with other digital assets listed on the platform.
Bitcoin payment platform BitPay is now going to allow payments with the Paxos Standard token (PAX), which it calls “the fastest growing stablecoin and the highest trading volume of any U.S. dollar-backed stablecoin.”
A stablecoin, as its name suggests, is a cryptocurrency that is built to retain a stable value. Here is an overview of some of the different types of stablecoins that are making their mark.
Two crypto companies, Gemina Trust and Paxos, got a green light from a New York state regulator to launch their own stablecoins pegged 1:1 to the U.S. dollar.
