Cryptocurrency

12/03/19 12:11 UTC-4

Paxos plans to launch a stable-coin this year

Paxos is a crypto company that currently offers a stable-coin, supported by the US dollar, and plans to issue another coin this year, which will receive the support of one or more precious metals, most likely gold.

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In an interview with CEO Chad Cascarilla, it’s reported: "Currently, Paxos is working hard to get enough precious metal reserves to back up a stable-coin, which is planned to be launched in 2019."

He also clarified the need to have enough reserves to cover the new coin.

Cascarillo has not yet confirmed that gold will be the metal used to back up the tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
, although it probably makes sense, and many industry experts expect the coin to be supported by gold.

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Paxos will launch a stable-coin this year. In general, this can be an exciting step for digital assets, a stable-coin can be taken more seriously than most other cryptographic tools.

Editor: Alyona Nabok

See also: "Hardfork in the Monero network and its consequences"

#Paxos #coin #cryptocurrency #blockchain

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