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.