Despite potential price fluctuations on different trading venues, USDP will always remain redeemable for $1 on Paxos, a spokesperson told Cointelegraph.
Paxos News
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Tensions in the Middle East ramped up over the weekend following an Iranian drone and missile attack, with the price of PAX Gold and Bitcoin reacting very differently in the aftermath.
2219Total PayPal USD in circulation amounted to $188.5 million in March, or 39% less than in February 2024.
26138Since the Canton Network’s inception, 155 participants from 45 major organizations have settled real-world assets across 22 blockchains.
10853The approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-backed stablecoin.
2588The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval.
3432PayPal launched its U.S. dollar-backed stablecoin in August 2023.
7252Chun’s reservations about whether to return the funds to Paxos stems from him being “annoyed” that “the person claiming it (the funds) kept saying EST instead of EDT/UTC.”
8405The total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4 million as of Aug. 31, a Paxos report states.
2694Paxos has earlier said it would halt support of Binance’s stablecoin by February; now the exchange has said it will also stop support by that time.
19856The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users.
3347The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC.
3507After a dip of over $1 billion in the past 30 days, BUSD now sits fourth in market capitalization among stablecoins.
11054A mainstream report citing multiple insiders claimed that Binance mingled customer’s funds with corporate funds at Silvergate Bank.
3663Tether and Circle have been leading lobbying efforts among stablecoin issuers as they push for legislation and regulations for stablecoins.
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