The Paxos Standard Token (PAX) is an Ethereum-based ERC-20 token. It combines the benefits of blockchain technology with the stability of fiat money as a regulated stablecoin leveraged by the US dollar. Furthermore, each PAX token is fully backed by the same number of US dollars, allowing it to be exchanged for US dollars at any moment. Paxos Standard, on the other hand, is not a security under US law.
About Paxos Standard
Paxos Standard was founded in September of 2018. Stablecoins are cryptocurrencies created in relation to a specific stable asset or a basket of assets to limit stablecoin price fluctuation. Paxos Standard can even be exchanged for goods in some circumstances. Paxos Standard provides the benefit of trading with blockchain assets while minimizing price risk. The Paxos Standard token (PAX) is produced on the Blockchain of Ethereum as ERC-20 tokens and secured by 1/1 USD on US bank accounts controlled by Paxos.
What is Paxos Standard [PAX]?
Paxos Standard is a fiat-backed stablecoin that combines the benefits of dealing with blockchain-based assets with the risk of price volatility. As ERC 20 on the Ethereum network, the Paxos Standard token is released and guaranteed 1:1 USD in Paxos-owned US bank accounts. The tokens are provided in the Paxos Standard. It is also one of three stablecoins certified by Wall Street regulators, along with GUSD and BUSD.
Who Are the Founders of Paxos Standard [PAX]?
There are two founders of Paxos Standard named Charles Cascarilla and Rich Teo. Charles Cascarilla is the founder and CEO of Paxos Standard. He is also the founder and member of the ADAM association and a stakeholder of Liberty City Ventures.
His prior expertise also encompasses a portfolio manager for Claiborne Capital Management, a corporate finance firm at Goldma Sachs, and an analysis agency for the Bank of America, and collaboration with Cedar Hill Capital Partners.
Rich Teo served at Cedar Hill Capital Partners as a "Senior investigator". He worked at Citi as a financial analyst and served in the Singapore Armed Forces as a "combat signaler".
What Makes Paxos Standard Unique?
The Paxos Standard is a cryptocurrency that enables users to trade US dollars for Paxos Standard Tokens. Its major objective is to use blockchain technology to stabilize the currency. The New York State Department of Financial Services has granted Paxos a charter, allowing them to provide regulated services in the crypto asset realm. The USD in the company's accounts at U.S. depository institutions backs the token.
Paxos Standard was created to benefit the wider financial environment by creating a seamless worldwide network. All digital assets may be swiftly mobilized with a high level of flexibility and accessibility here. Paxos' vision is to build a world in which digital assets, commodities, and securities may be traded everywhere, at any time.
Where Can You Buy Paxos Standard [PAX]?
Paxos Standard, or PAX, may be bought or exchanged on a number of exchanges, including:
- VCC Exchange
- Bithumb Global
- 1inch Exchange
Frequently Asked Questions
Can I Buy Paxos Standard [PAX] With Cash?
There is no direct way to purchase PAX with cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Are there any quick ways to buy Paxos Standard [PAX] in Europe?
Yes, there are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
What is the cheapest way to buy Paxos Standard?
The most cost-effective method is to purchase bitcoins using a bank account and then swap the BTC for PAX.
Paxos Standard Official website – https://paxos.com/standard
Paxos Standard Twitter – https://twitter.com/PaxosStandard
Paxos Standard Medium – https://medium.com/@PaxosStandard