Cryptocurrency

17/12/18 07:00 UTC-4

PAX Stablecoin exceeded $ 5 billion in transactions for the first 3 months

The amount of stable currency supported by the US dollar, Paxos (PAX) exceeded the volume of transactions by $ 5 billion.

PAX is a stable Ethereum blockchain-based coin (ETH). A wide range of people became aware of the Paxos project thanks to Binance's announcement of its support and listing of the PAX stablecoin. This is not just a cryptocurrency pegged to the US dollar. This is primarily a platform for payments.

According to Paxos, a blockbuster trust company that produces PAX, today the coin was used in the amount of transactions in the amount of 5,245,958,124.65 US dollars, with a market capitalization of more than 174 million US dollars (at the time of publication in the press it dropped slightly to 159.5 US dollars), of which the trust company bought out "more than 136 million dollars".

Paxos, which holds the dollar deposits of its investors in banks insured by the FDIC in the United States, also included in its press release monthly appraisal reports since the launch of the tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
– September, October, November 2018.

Since PAX is "the second best-selling stable coin with a three-time 24-hour tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
volume of its closest competitor", this token really competes with several other recently issued fiat stable coins. On the same day that PAX was launched, the WInklevoss twins presented their own regulator-approved New York, stable dollar, compatible with ECR-20, Gemini dollar (GUSD). In October, the leading market-based OKEx crypto-exchange announced that it would be listing immediately with four stablecoins – PAX, GUSD, TrueUSD (TUSD) and USD Coin (USDC).

Editor: Yuliya Soroka

See also: "Bitcoin collapsed in price to $ 3200"

#PAX #Paxos #Stablecoin #cryptocurrency

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