bniru posted on November 19, 2019 23:54:10
Paxos Standard (PAX) is a token pegged to the U.S Dollar on a one-to-one ratio. It is available through Paxos, a trust company. An advantage Paxos has is the fact that it is regulated by the New York State Department of Financial Services. Compared to other exchanges and tokens, Paxos has to meet a number of different requirements ranging from the NYDFS capital reserve, and consumer protection to anti-money
Crypto Anonymous posted on July 02, 2019 22:12:24
Considering the regulated nature of this stable coin, it is likely to be trustworthy enough to assume that it won't collapse overnight and is indeed fully backed as it promises. There seem to be some issues for larger traders to redeem their tokens, with extra hassle created by Paxos for this process in individual cases, which seems to suggest some bad faith practices from the company, for more
Dr. Doom posted on June 25, 2019 20:20:12
This is a stable coin against US dollars with its reserves in FDIC regulated, US banks. The company is fully regulated and is also the company that launched itBit exchange. PAX is launched in 2018 along with a bunch of competitor stable coins. It is an ERC20 token, so security lies completely with the security of Ethereum. Whether or not this token is censorship resistant or confiscatable: that depends
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