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.”
The Grant Thornton write-up states that the “examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.”
Last month's attack on Tether contains a cautionary tale: Only those coins that can survive such attacks have the slightest chance of becoming the “holy grail" of stablecoins.
Tether stated that Deltec accepted it as a client after a “due diligence review” was carried out, which included an assessment of the company’s ability to maintain its $1 peg, which slipped last month.
Coinbase plans to use the funding to "accelerate the adoption of cryptocurrencies," as it plans to remain the "entry-point into crypto" for millions of investors.
Utility billing and payment services provider Novatti is launching a new Australian dollar-backed stablecoin known as the Novatti AUD Utility Token on the Stellar Network in November.
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