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

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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
PAX Worth $50 Mln Emitted Within Month, Investors’ Interest Spikes
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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 crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.