Paxos Standard (PAX) is a stable cryptocurrency built on top of the Ethereum (ETH) network. It is linked to the US dollar, which is why it is referred to as a stable coin. Additionally, it is referred to as the digital dollar. The founders of Paxos Standard stable coin created the coin intending to change the financial environment through its ability to conduct fast, flexible, and seamless transactions.
Paxos LLC, previously iBit, was formed in 2012 by three partners:
The firm is headquartered in two locations: New York and Singapore. The Paxos team launched the Paxos Standard (PAX) stable coin in September 2018.
Investors now have a perfect chance to save, invest, transact, and trade without fear of market volatility or unanticipated malpractices.
Additionally, to guarantee the smooth operation of the business, the Paxos team works to maintain a cordial relationship with financial regulators. So, Paxos Standard token cryptocurrency seems like a promising cryptocurrency.
Alternative to traditional currencies: The PAX Stablecoin can be used as a complement to conventional cryptocurrencies.
PAX is a tradable stable coin built on the blockchain and linked to the US dollar. It was created as a less volatile digital asset with immediate borderless transactions, unlike traditional cryptocurrencies.
Ethereum is a distributed ledger technology built on the blockchain that integrates smart contracts to provide a secure end product that fosters user trust. As a result, Paxos opted to operate on this network.
Currently, there are about 936.446 M PAX coins in circulation.
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