This week, Binance crypto exchange house announced that it added support for the Paxos Standard stablecoin known as PAX.
From now on, the stablecoin can be exchanged with other cryptocurrencies within one of the most important exchange platforms in the world.
This new currency comes at a time when Tether (USDT), the only stable of the platform so far, has been involved in a scandal for accusations of manipulation of the bitcoin market.
In an official statement Binance gave explanations about what they expect from PAX, assuring that this currency will provide greater security to the assets of the users since their funds will be guarded by various financial institutions in the United States.
“The demand for PAX has grown very rapidly since we launched it just over two months ago, which makes it clear that operators want a stable, regulated and transparent image, and we are delighted to be listed as the base currency in Binance, which is an innovative step for the industry because it is improving the access and ease of use of a cryptographic asset denominated in dollars”, the statement said.
K. Tovar
Source: Coincrispy
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