What is PAX ?
Paxos Standard (PAX) was built so that money can move fast.
PAX is a digital dollar. Like other crypto assets, it can move instantaneously, anywhere in the world, any time of any day, and it’s programmable. Unlike other crypto assets, PAX is stable. It is backed 1:1 for the dollar and it’s issued by the Paxos Trust Company, so the funds are carefully protected, audited and regulated.
It’s a piece of our future vision for a frictionless, global economy, where all assets can move anywhere instantaneously, 24/7.
Dollar-Backed Digital Assets
Paxos serves as the qualified custodian for your stablecoin, ensuring fiat assets are held 1:1 in dedicated omnibus cash accounts at FDIC-insured U.S. banks or in Treasury Bills. These balances are audited every month to validate 1:1 backing.
Fully Managed Regulatory Approvals
Paxos works with New York banking regulators to get formal approval for the issuance and usage of your custom branded stablecoin. Our Trust status and additional licenses enable us to serve customers in all U.S. states and globally.
Easy, Seamless Technology Integration
We’ve done the heavy lifting so you don’t have to. Our stablecoin platform is API-enabled to make your technical integration simple. With an extensive library of endpoints, it’s easy to select the best options for your customer experience.
Why PAX use Ethereum ?
Ethereum is a decentralized blockchain-based ledger that supports smart contracts, and is the most widely-used digital-asset platform. Paxos Standard follows the ERC-20 protocol, which is a standard for smart contracts on the Ethereum blockchain. The ERC-20 standard specifies a set of standard functions to manage transactions and track account balances. Some of the advantages of the Paxos Standard ERC-20 token are listed below:
Seamless wallet support and exchange integration. Any provider that has implemented ERC-20 code can support the token on their platform
An open network enables use-cases impossible on a closed network
Maximum end-user trust
Users do not have to trust a given exchange to hold their token
Reduced liquidity risk – each user can redeem from our regulated trust which publicly ensures they have enough cash on hand
How can i buy PAX ?
To purchase Paxos Standard Token (PAX) on the majority of the cryptocurrency exchanges, you will already need to have Bitcoin (BTC) or Ethereum (ETH) to trade with.
The good news is that you can easily purchase PAX cryptocurrency at Giottus using your Bank Account.