PAX Worth $50 Mln Emitted Within Month, Investors’ Interest Spikes

News
Tue, 10/16/2018 - 11:16
Yuri Molchan
Paxos platform has officially reported that since it has launched the coin in September, it has issued a $50-mln worth of its US dollar-pegged coins — PAX
Cover image via U.Today

Paxos platform has officially reported that since it has launched the coin in September, it has issued a $50-mln worth of its US dollar-pegged coins — PAX. On Monday, the company management team tweeted that in just recent several days the startup has emitted over $14 mln worth of PAX in return for deposits in US dollars.

PAX is known to be a stablecoin that has got regulators’ approval. In particular, the NY Department of Financial Services has okayed it.

Recently, PAX has been listed by such major exchanges as OKEx, Binance, and KuCoin. This was probably the reason for the recent splash of interest towards the stablecoin.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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