Crypto Exchange Seed CX Adds Support for Three Stablecoins

Chicago-based crypto exchange Seed CX has announced support for stablecoins Paxos (PAX), USD Coin (USDC), and TrueUSD (TUSD) in a press release on May 14. The new stablecoin additions can be traded for U.S. dollars starting May 17, and the exchange is aiming to roll out trading pairs between the stablecoins and other fiat currencies […]

Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins

CEO Nevin Freeman of stablecoin startup Reserve predicts that central banks will tokenize their currency at some point, but stablecoins will likely still have an advantage in offering privacy. Freeman delivered his remarks at the Consensus 2019 panel “The End of Volatility? Stablecoins on the Rise” on May 15. During the panel, moderator Joel Telpner, […]

PAX Streamlines Redemptions in Battle for Stablecoin Market Share

Most crypto companies avoid comparisons to traditional banks. But Chad Cascarilla, CEO of the stablecoin issuer Paxos, welcomes the analogy. “It’s akin to a bank account,” Cascarilla said, describing the new integration of Paxos wallets to the sister company itBit, a crypto exchange. “It has the look and feel in part of a bank account, […]

Paxos Now Allows for Instantaneously Redeeming Unlimited Amounts of PAX for USD

The company behind the Paxos Standard (PAX) stablecoin announced that its users can now instantaneously redeem unlimited amounts of its tokens for United States dollars. The development was described in a blog post published on May 13. Per the announcement, every PAX deposited on the company’s platform can now be immediately sent as USD to […]

When Tether Warnings Are Marketing Tools

“We’re in a scary place, because if Tether’s pretty systematically embedded in the crypto market infrastructure, trading on several tokens might fall.” Usually, such talk, premised on the assumption that much of the cryptocurrency market is dependent on the dollar-pegged token known as tether or USDT, might sound like clear-eyed realism (to hardened skeptics) or […]

Ontology to Launch Regulated USD-Backed Stablecoin PAX on its Blockchain

Enterprise blockchain platform Ontology (ONT) plans to launch a version of the regulated USD-backed stablecoin Paxos Standard (PAX) on its own blockchain. The company announced the news in a press release published on April 27. Per the release, the new token (PAXO) will be based on Ontology’s OEP-4 token standard, which will enable atomic swaps […]

Ontology Still Moving on Paxos Partnership

Crypto markets consolidate on Sunday; Bitcoin holding steady, BNB still gaining, Ontology making bigger moves. The weekend has been typically quiet on crypto markets but that is preferable over further declines. Total market capitalization has remained above $170 billion which keeps markets within their range bound channel. Bitcoin snuck over $5,300 a few hours ago […]

Paxos to Issue Up to $100 Million of Stablecoins on Ontology Blockchain

Stablecoin issuer Paxos will issue up to 100 million of its PAX tokens, pegged 1:1 to the U.S. dollar, on the Ontology blockchain network next month. The launch will make it easier for individuals and businesses using Ontology’s ONT token to transact in fiat-pegged tokens, Ontology announced Friday. Paxos Standard (PAX) is a regulated U.S. […]

Coinbase-Backed Stablecoin Claims Rivals Deceptively Pump Market Cap

Touted as the next big thing in crypto, stablecoins promise investors volatility-proof exposure to decentralized assets, but insiders say that this emerging asset class is vulnerable to the same manipulative practices that have tarnished the broader ecosystem. According to Nevin Freeman, chief executive officer of Reserve, a Coinbase-backed stablecoin, many of his rivals artificially inflate […]

Tether Withdraws Claim of USD-Backing While Rival Stablecoins Provide Monthly Attestations

The controversy surrounding the backing of Tether’s USDT tokens has resurfaced following a recent alteration to the company’s terms of service that now state the reserves backing USDT comprise “traditional currency and cash equivalents and … other assets and receivables from loans made by Tether to third parties.” Despite tether’s dominance among stablecoins by market […]