PAX

Paxos Standard

USD 1.0000

-0.08%

EUR 0.8259 • BTC 0.00002498 • ETH 0.00038700


 Add to Watchlist    Add to Rewards    Create an Alert

 0    522  
1D 7D 14D 1M 200D 1Y 2Y 5Y 10Y
-0.08%
0.94%
0.10%
0.01%
0.06%
0.05%
                    

Rank: 82
Market Cap: $949,319,961
ATH: $1.1300, 2018-10-15T07:09:12.459Z
Maximum supply: 0
Circulating supply: 948,063,285
Contract Address: 0x8e870d67f660d95d5be530380d0ec0bd388289e1
Description:
Paxos Standard (PAX) was created by Paxos, a financial technology company on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos was the first virtual currency company to receive a charter from the New York State Department of Financial Services. As a chartered limited purpose trust company with fiduciary powers under the Banking Law, Paxos is able to offer regulated services in the crypto-asset and virtual commodities space. The Paxos team comes from a wide variety of backgrounds with a diverse array of experiences ranging from Wall Street to Silicon Valley. It’s led by CEO and co-founder Charles Cascarilla, who has spent his career as a customer, analyst, investor and now creator of financial technology. Paxos describes itself as “the first regulated Trust company with blockchain expertise”, and it is using that expertise to create a modern settlement solution that can eliminate risk and simplify settlements. What many people may not know about Paxos is that it was actually founded in 2012 as Paxos Trust Company, and that for most of its life it ran the cryptocurrency exchange itBit, which is still operates. The creation of Paxos was a pivot from an exchange platform to a company focused on creating a modern settlement platform using blockchain technology. Paxos has become the most widely adopted cryptocurrency in the fastest time frame, with support from over 20 exchanges and OTC desks in the first five weeks of its existence. It’s been picked up and listed by six of the top ten cryptocurrency exchanges, Binance, OKEx, Gate.io, ZB, KuCoin and DigiFinex. These exchanges are offering PAX as an alternative to the controversial Tether. Unlike the controversy surrounding the people who control Tether, there is no such obscurity when it comes to the people behind Paxos. The CEO and co-founder is Charles Cascarilla. He has over 15 years in financial services and has co-founded Cedar Hill asset management back in 2005. He has also worked and Bank of America and Goldman Sachs prior to that. The Paxos Standard (PAX) is the first digital asset to be issued by a financial institution and to be fully secured by the U.S. dollar. While other similar stablecoins have existed, there has been no proof of full U.S. dollar reserves, nor have these earlier assets been issued by a financial institution. The Paxos team has been fairly clear in declaring the different base that PAX is working from.




 Topics

 New Topic


 News




© 2021 The Financer   Contact Us   Terms and Conditions   Privacy Policy