Paxos’ Precious Metal-Backed Cryptocurrency to Launch This Year, CEO Says
Blockchain trust company Paxos’ digital token backed by precious metals will be launched "definitely this year," said Paxos CEO, Chad Cascarilla in an interview with Fortune’s Balancing the Ledger on March 11.
Crypto Payments Processor BitPay to Support Paxos Stablecoin
Crypto startup Paxos is partnering with payments firm BitPay to allow the latter’s merchants to utilize the Paxos Standard stablecoin in settling transactions.
Important Aspects of Stablecoins: The Difference Between Pegging, Collateralization, and Redeemability
Stablecoins have been making the headlines in recent months, attracting big investors, tempted by the allure of a on ‘non-volatile’ cryptocurrency. At first, we usually pay attention to the backing connection, in other words, to the coin’s stabilizing mechanism. Broadly speaking, this is broken down into 3 categories: asset-backed (including fiat), crypto-backed, and non-backed stablecoins (including algorithms and the Seigniorage shares’ approach).
PBoC Op-Ed Pushes Use Case for Yuan-Pegged Crypto Stablecoins
China should increase its research efforts on the topic of stablecoins and consider backing domestic institutions issuing yuan-pegged cryptocurrencies, a researcher from the People's Bank of China (PBoC) argues.
Blockchain Trust Company Paxos Launches NY Regulator-Approved, USD-Backed Stablecoin
Blockchain Trust company Paxos has launched a U.S.-dollar backed stablecoin following approval from New York regulators, according to a press release published September 10.